In Monday’s premarket update, Stephen Whiteside of TheUpTrend.com reports that stock index futures, gold, and cryptocurrencies are trading higher, while crude oil is slightly down. No major economic data is expected Monday, but earnings throughout the week could impact market direction. The VIX remains on a sell signal, supporting bullish sentiment, with a reversal possible if it closes above 17.59. Bitcoin continues to test key resistance levels, while Ethereum pushes toward 3750. Gold and crude remain trendless, and bond yields retreated after peaking midweek.
Key ETFs and sectors showed mixed signals last week, with the Russell 2000 and financials rebounding onto buy signals. In U.S. and Canadian markets, several most-active stocks posted new highs including Nvidia, Joby Aviation, Whitecap, and Denison Mines. Tesla and Barrick remain in consolidation, while Ford and Air Canada continue on sell signals. The TSX saw notable strength in banks and energy, although names like Cenovus and Canadian Natural Resources showed weakness. The market is set for a bullish open barring any surprises, with Tuesday’s update to follow.
Stephen Whiteside
Monday, July 21, 2025
