Stock index futures are lower to start the week, while commodities are moving higher. Gold is up sharply in the pre-market, cryptocurrencies are trading lower, and the VIX remains on buy signals—showing continued concern among options traders. Bitcoin and Ethereum remain on sell signals, with potential downside targets still in play. Crypto-related stocks may see short-covering rallies, but sustained upside would require stronger crypto price action.
Energy stocks saw a modest pullback, while crude oil approaches major resistance levels. Natural gas and silver remain highly volatile, with silver currently exceeding natural gas in daily volatility. Gold and silver miners are on buy signals, and several U.S. and Canadian sectors—including materials, utilities, telecom, and industrials—remain constructive. With major earnings ahead, including Canadian banks and Nvidia, the week could bring increased volatility.
Stephen Whiteside
Monday, February 23, 2026
