Markets reversed sharply on Monday after early weakness, triggered by aggressive short selling in crude oil and buying in equities just before a major news catalyst. This led to a powerful short covering rally, pushing indices higher by the close.
However, the rally lacked strength beneath the surface. Key indices failed to break above resistance levels, forming negative chart patterns. While Canada showed relative strength, the broader market trend remains downward, with caution dominating sentiment.
Stephen Whiteside
Tuesday, March 24, 2026
