In today’s update, Stephen Whiteside from TheUpTrend.com discusses the quiet pre-market activity due to the U.S. Thanksgiving holiday, with minimal trading on Bay Street. He highlights the previous day’s downturn in big-cap tech stocks, which pressured ETFs, while indices like the NASDAQ 100 and S&P 500 struggled with key resistance levels. The discussion also covers market dynamics in Bitcoin, bonds, currencies, and Canadian telecom and financial stocks, focusing on their role in stabilizing the TSX.
Stephen also examines trends in the gold sector, noting a divergence between the rising price of gold and underperforming gold stocks like Barrick. He advises investors to focus on stocks that currently attract market interest. Wrapping up, he highlights the importance of patience during quiet market days and extends Thanksgiving wishes, promising further insights in the next update.
Stephen Whiteside
TheUpTrend.com
Thursday, November 28, 2024
