In this Wednesday morning update, Stephen Whiteside from TheUpTrend.com covers the market’s cautious tone ahead of the Federal Reserve meeting. He highlights key economic data releases including initial jobless claims and energy inventories, and notes that U.S. markets will be closed Thursday, while Canadian markets remain open but lightly traded. Market sentiment remains negative, with the VIX on a buy signal suggesting rising fear, and options traders showing nervousness about the broader market outlook.
Stephen provides an overview of commodities, noting mixed signals: copper is stagnant, gold and silver continue on buy signals with strong miner performance, and crude oil and gasoline prices are climbing — raising concerns ahead of the July long weekend. He also discusses sector performance, pointing out renewed weakness in the solar sector and widespread sell signals across global markets and defensive sectors like biotech and utilities. Traders are advised to watch market reaction to the Fed announcement for further direction.
Stephen Whiteside
Wednesday, June 18, 2025
