In Tuesday’s premarket update, Stephen Whiteside from TheUpTrend.com discusses how the Nasdaq is leading the U.S. markets higher, thanks largely to Nvidia’s early gains. With the CPI numbers expected at 8:30 AM, the potential for a shift in market direction looms. Thomson Reuters made a surprising 7.74% gain on Monday, far exceeding its average volatility, triggering an upward revision in its price targets. Whiteside uses this to explain how volatility can expand projected price ranges, citing $304.89 as the next major target, just beyond psychological resistance at $300.
The update also revisits price targets for Bitcoin, the VIX, and several key Magnificent Seven stocks including Apple, Amazon, Nvidia, Tesla, and Microsoft. With the summer rally potentially peaking, Whiteside notes where these stocks are stalled and where they could be heading next. Tesla, now back on a buy signal, is working within a tightening triangle pattern, with $343.75 as the next target. As always, traders are reminded that timing is everything, and upcoming CPI data could play a crucial role in shaping the week’s market trajectory.
Stephen Whiteside
Tuesday, July 15, 2025
