In Thursday’s pre-market update, Stephen Whiteside reports that stock index futures, commodities, and Bitcoin are trading lower, with Bitcoin breaking below the $70,000 level after failing to hold support at $75,000. Volatility increased sharply, with the VIX rising for the S&P 500, Nasdaq, and Russell indices. While most S&P 500 stocks were up, weakness in large-cap software and semiconductor stocks—including AMD, Micron, Lam Research, and AppLovin—continued to pressure major indexes. The Nasdaq 100 is testing key support near its December and November lows, raising the possibility of a retest of January lows.
Energy stocks led gains in the U.S., while copper miners and several tech names saw significant declines. In Canada, Consumer Discretionary and Consumer Staples showed strength, with select stocks moving back onto buy signals, while mining and crypto-related names struggled. Gold remains below key resistance, silver faces overhead pressure, and bear ETFs continue to rise as markets trend lower. The presentation emphasizes watching major round-number support levels and respecting prevailing trends.
Stephen Whiteside
Thursday, February 5, 2026
