In this weekend’s edition of Protect Your Portfolio, Stephen Whiteside recaps week 21 in the markets, noting the continued decline in bond prices and the spike in bond yields, which is putting pressure on the housing sector. The U.S. dollar reversed after a multi-week rally, lifting other currencies like the Canadian dollar. He highlights the failure of recent U.S. buy signals to gain momentum and reports that several key indices, including the Dow, NASDAQ, and S&P 500, have returned to daily sell signals. Notably, the VIX for all major U.S. indexes is on a buy signal, signaling increased market volatility.
In Canada, while some sectors hit new highs, many have started to reverse or stall. Shopify, the tech sector, and the World Index ETF all ended the week on daily sell signals. Gold and gold stocks were strong, with the metal up over 6%. U.S. financials and energy stocks were particularly weak, while semiconductors remain range-bound below key resistance. With U.S. markets closed on Monday and thin trading expected in Canada, Stephen will next update subscribers on Tuesday morning.
Stephen Whiteside
Sunday, May 25, 2025
