In Thursday’s market update, Stephen Whiteside from TheUpTrend.com reports that U.S. stock index futures, gold, and crude oil were trading higher in the pre-market, while Bitcoin was lower. The Philadelphia Fed Manufacturing Index and delayed crude oil inventories are key data points today. U.S. indices remain range-bound since last Friday, though the Canadian market and mining sectors—especially gold, silver, and uranium—have broken out to new highs. Small-cap and venture stocks in Canada also hit new highs, signaling broader market strength.
Despite positive momentum in some areas, the VIX remains elevated, showing that volatility hasn’t eased significantly. Commodities like copper are mixed, while gold and silver continue to climb. Energy remains weak, with natural gas and Canadian energy stocks under pressure. Among the Magnificent Seven, Alphabet and Broadcom are on buy signals, while others remain on sell signals. Whiteside concludes that Thursday’s open may bring more buying, but volatility is likely to persist.
Stephen Whiteside
Thursday October 16, 2025
