In this Friday market update ahead of a three-day long weekend, Stephen Whiteside reviews weakening pre-market conditions despite the historically bullish setup. Stock index futures, crude oil, and Bitcoin are trading lower, while gold is slightly higher. On the weekly charts, the VIX remains on a buy signal for a second week, indicating longer-term bearish pressure. The Dow has pulled back modestly, transports failed to break above 20,000 due to sharp declines in select stocks, and the S&P 500 and Nasdaq are testing key lower channel support levels.
Daily charts confirm growing downside momentum, with the S&P 500, Nasdaq, Russell 2000, microcaps, and banking sector all back on sell signals. Several notable stocks posted sharp declines, and multiple commodity ETFs are weakening, including crude oil and gasoline. Gold is attempting to hold support, while silver and other metals remain under pressure. Bitcoin and Ethereum are also trending lower. Despite the seasonal expectation of strength, current technical signals suggest caution heading into the long weekend.
Stephen Whiteside
Friday, February 13, 2026
