In Tuesday’s pre-market update, Stephen Whiteside from TheUpTrend.com reports a quiet open with no major economic news, though some earnings announcements are in play. The marijuana sector led gains on Monday, while UnitedHealth reached a key price target. Home Depot posted earnings and is trading lower but not enough to trigger a sell signal. The VIX indexes remain in the channel, signaling the possibility of a buy signal. In Canada, major ETFs are near upper channel lines, with energy on a sell signal, financials and gold stocks on buy signals, and technology still weak.
In the U.S., broad market ETFs remain on buy signals, though recent strength in mid-, small-, and micro-caps has stalled. Energy is weak, while financials and banks may be setting up for lower highs and potential declines. Gold stocks remain strong, and semiconductors hover near a possible sell signal. Among volume leaders, Enbridge, Manulife, and Barrick show strength, while Palantir is back on a sell signal. Notable movers include TeraWolf, Applied Digital, and IQ, all hitting resistance after strong runs. Overall, markets are treading water, with traders awaiting confirmation of trends.
Stephen Whiteside
Tuesday, August 19, 2025
