Thursday’s market update from Stephen Whiteside at TheUpTrend.com highlights a significant bearish reversal on Wednesday, where many stocks not only reversed direction but closed below the previous day’s lows—amplifying the negative signal. While the Dow is down in premarket trading, it remains within its average true range, meaning the move is not yet considered significant. Boeing is under pressure following a crash in India, down over 7% premarket, and potentially triggering a new sell signal by day’s end. Whiteside also breaks down volatility levels across major indices and high-profile stocks like Nvidia and Tesla, noting that elevated average true ranges often correlate with more expensive options premiums.
In commodities, crude oil spiked 4.68% on Wednesday while natural gas continued to lag. Gold is up premarket and may break out of its recent trading channel, platinum rallied to a new high, and silver pulled back slightly. In mining stocks, GDX remains on a buy signal, while TSX-listed gold and silver miners showed mixed results. On the stock performance front, Dollarama and Warner Brothers were the day’s winners, while Amazon, Intel, and Tim Hortons lagged. The video closes with a reminder to monitor upcoming economic reports (jobless claims and PPI), and emphasizes the value of timing and trend-following in today’s volatile market.
Stephen Whiteside
Thursday, June 12, 2025
