In Tuesday morning’s premarket update, Stephen Whiteside from TheUpTrend.com reports a quiet start with futures trading just below fair value ahead of Fed Chair Powell’s speech. The VIX remains on a sell signal, suggesting continued upward momentum for stocks. Bitcoin is hovering near 118,750, while Ethereum continues to climb toward the 4062.50 target. Bonds moved higher, pressuring yields lower, which could support further equity gains. Commodities like gold, silver, and platinum all rose, while natural gas reversed and is now back on a sell signal.
Among the most actively traded stocks, Tesla saw a bearish reversal, while Amazon, Alphabet, and Broadcom made new highs. Other notable movers include Netflix, which could trigger a buy signal with a higher close, and Open Door, which surged 42%. On the TSX, big banks like Royal Bank and TD held steady, while others like CIBC and Bank of Nova Scotia hit new highs. Energy names like TC Energy and Canadian Natural Resources weakened, while gold stocks and Cameco remained strong. Whiteside notes a quiet open is expected unless Powell’s remarks shift market sentiment.
Stephen Whiteside
Tuesday, July 22, 2025
