In today’s morning market update, Stephen Whiteside from theuptrend.com highlights a general pullback across stocks, commodities, and cryptocurrencies in the pre-market session. Major indices like the NASDAQ 100 and Russell 2000 are leading the downward move, with Palantir and crypto ETFs showing early signs of weakness. Key technical levels, including moving averages and support zones, are being tested with no significant economic data until the 10 AM job openings report, which may shift the current trend.
Meanwhile, various sectors such as energy, metals, and large-cap stocks are experiencing mixed results. While some like Magna and Amazon hold strength, others like Constellation Software and Kimberly Clark continue to lag. The video stresses the importance of watching for breakouts or breakdowns from current consolidation points, emphasizing that following strong stocks and avoiding weak ones is key for trend-based investors.
