Stephen Whiteside of TheUpTrend.com reviews the market outlook for Monday, December 2, 2024. Stock futures are slightly below fair value, with mixed movements in commodities, and Bitcoin experiencing a modest sell-off. Key metrics like the VIX support potential short-term upward movement for major indices, while bonds are rising alongside falling yields, offering support for equities. Key targets include S&P levels at 609.38 and further milestones for indices like the Nasdaq and Russell 2000.
He also emphasizes the performance of major tech stocks and Canadian banks, crucial for sustaining a Christmas rally. Notable performers include Apple, Nvidia, and Meta, while underperformers like TD Bank and certain Canadian financials face challenges. Key technical indicators, such as the upper channel line and early warning signals, provide actionable insights for trend changes in stocks like Tesla, Shopify, and Telus.
Stephen Whiteside
TheUpTrend.com
Monday, December 2, 2024
