This Friday morning market update focuses on the heightened volatility triggered by Israel’s overnight attack on Iran, which caused stock index futures to drop and energy prices to spike. Stephen Whiteside explains that while Wednesday’s bearish reversal signals technically remain valid, the primary action today is in the energy sector, with gasoline prices jumping and crude oil up nearly 8% premarket. He advises viewers to fill up their tanks before gas stations adjust prices higher and highlights key price levels for crude oil and major energy ETFs.
Gold is modestly higher, with some reversals back to buy signals for notable gold stocks like Agnico Eagle and Kinross. Despite strength in commodities, the TSX and major index ETFs face selling pressure, although the situation is stabilizing from overnight lows. The VIX and related ETFs are moving higher and could end the day on new buy signals, suggesting continued caution. Whiteside wraps up by encouraging viewers to monitor closing levels
Stephen Whiteside
Friday, June 13, 2025
