In Wednesday morning’s update, Stephen Whiteside from TheUpTrend.com reviewed the premarket activity ahead of major economic announcements expected at 8:30 AM, which could influence market direction. Despite stock index futures being slightly below fair value, key indicators like the VIX remained stable. He noted that the S&P 500, NASDAQ, and Russell 2000 continue to hold their current trends. The TSX 60 drifted higher with standout performances from Circle K and Baytech. U.S. stocks like Nike and Intel showed notable gains, with Intel surging nearly 8%. The S&P 500 ETF broke above the $600 level, suggesting bullish momentum.
In commodities, crude oil and gasoline traded higher in the premarket, while natural gas reversed onto a sell signal. Canadian and U.S. energy stocks closed higher, with Canadian gold stocks rolling over into a sell signal. Meanwhile, the GDX held its position and silver experienced mild profit-taking without triggering new sell signals. The market remains cautious but steady ahead of the morning’s economic data. Stephen closed by reminding viewers of the importance of timing in market strategies and encouraged them to visit TheUpTrend.com for more tools and insights.
Stephen Whiteside
Wednesday, June 11, 2025
