In Thursday’s pre-market update, Stephen Whiteside reviewed market conditions ahead of key economic reports, including jobless claims and the Philadelphia Manufacturing Index. The VIX remains mixed, with the S\&P 500 VIX still on a sell signal, while the Nasdaq VIX is on a buy signal. U.S. markets are showing early weakness, with several indexes flirting with sell signals, including the S\&P 500, Nasdaq 100, and small to micro-caps. Commodities were mixed: crude oil ticked higher, natural gas held near lows, copper was flat, and gold pulled back slightly. Silver remains on a sell signal, while coffee and live cattle continued upward trends, pressuring consumer prices.
The update also highlighted major technology stocks within the “Magnificent Seven.” Several are already on sell signals, including Meta, Microsoft, NVIDIA, Tesla, and Broadcom, with Apple and Alphabet hovering just above key support levels. Amazon in New York is on the edge of a sell signal as well, aligning with Toronto listings already bearish. Whiteside cautions that if current momentum continues, all seven could end Thursday back on sell signals. He closed by reminding traders that market timing is critical during volatile conditions and encouraged viewers to follow trends closely.
Stephen Whiteside
Thursday, August 21, 2025
