In Friday’s abbreviated market update, Stephen Whiteside from TheUpTrend.com explains that a migraine delayed his usual analysis and limited the depth of today’s report. Despite this, he highlights that stock index futures were down across the board and that recent bearish reversal signals suggest the seasonal summer rally may be coming to an end. The VIX has triggered a new buy signal, aligning with seasonal expectations for rising volatility in August through October.
Stephen then reviews key ETF signals in both Canadian and U.S. markets. In Canada, the TSX 60 and Vanguard Canada ETFs are on the verge of generating sell signals, while the 2x bear ETF has already turned bullish. In the U.S., the Dow and equal-weighted S\&P 500 are back on sell signals, and conditions suggest the 3x bull ETF could be replaced by its bearish counterpart. The message is clear: momentum is shifting, and investors should be on alert for a seasonal trend reversal.
Stephen Whiteside
Friday, August 1, 2025
