Stephen Whiteside’s market outlook for May 20, 2026 focused on a cautiously bullish pre-market environment as stock index futures recovered some of Tuesday’s losses ahead of NVIDIA’s highly anticipated earnings report. Energy stocks continued to support the Canadian market while weakness in mining and silver stocks created mixed sector performance. The VIX remained subdued, signaling no major rise in market fear, while crude oil stayed above $100 and precious metals traded with limited movement.
The video also highlighted growing concerns in the bond market, where rising yields and falling bond prices continue to pressure long-term trends without yet triggering a broader stock market breakdown. Whiteside reviewed key psychological resistance levels including gold above $5,000, Dow 50,000, and the S&P 500 near 7,500, noting that markets remain technically resilient despite recent pullbacks. Semiconductor stocks were mixed heading into NVIDIA earnings, with Texas Instruments showing relative strength while several major chip stocks remained on sell signals.
Stephen Whiteside
Wednesday, May 20, 2026
