Stocks Slide While Crude Oil Explodes
Markets remain under pressure after Monday’s dramatic intraday reversal failed to reclaim prior highs. The Dow was down 587 points at its worst and is trading lower again Tuesday morning. The Nasdaq 100 has broken below its 100-day moving average and is approaching the 200-day, a key level traders are watching closely, while the S&P 500 and banking sector show continued technical weakness.
Meanwhile, commodities are strengthening. Crude oil and gasoline surged, natural gas is testing resistance, and gold is advancing toward $500. Canadian energy stocks hit new highs, but Stephen emphasizes that broad market selling can pull down even strong sectors. Following trend signals and respecting downside targets remains crucial.
Stephen Whiteside
Tuesday, March 3, 2026
