The Dow Surges Again! But Is Technology About to Break Down?
U.S. stock markets showed a mixed picture heading into Thursday, with the Dow continuing to lead higher while S&P 500 futures remained relatively flat and NASDAQ futures moved lower. Following Wednesday’s strong market reversal, technology stocks faced renewed pressure after South Korea and Taiwan markets declined approximately 4%. Gold and crude oil continued moving higher, while the VIX fell sharply, putting major volatility indexes and ETFs back on sell signals. Gold also returned to a buy signal, with $4,218.75 identified as the next upside target.
Investors should continue watching three important market levels: SPY at $750, QQQ at $687.50, and SMH at $500. The Dow benefited from strength in previously underperforming stocks, including Microsoft, Amazon, Apple, McDonald’s, and Nike. However, Nvidia remained under pressure near $200. In Canada, gold stocks helped push the TSX 60 back onto a buy signal, while energy stocks struggled. Join Stephen Whiteside for a closer look at the key price levels, market signals, and sectors investors should monitor.
Stephen Whiteside
Thursday, November 5, 2026
0:00 Morning Market Outlook – November 5, 2026
0:41 Crude Oil, Gold and Commodity Market Update
1:39 VIX Update – Volatility Signals
2:02 Key SPY, NASDAQ and Semiconductor Levels
2:57 Dow Stocks: Biggest Winners and Breakouts
4:17 Dow Losers – Nvidia and Caterpillar
4:48 S&P 500 Winners and Losers
5:17 NASDAQ 100 – Key Levels and Stock Movers
6:05 Canadian Market Overview – TSX Sectors
6:38 TSX Energy and Gold Sector Update
6:49 TSX 60 – Biggest Winners and Losers
7:28 Canadian ETF, Mining and Energy Stocks
7:57 Final Market Outlook and Closing Remarks
