Stephen Whiteside reviews the market heading into a holiday-shortened week and notes that while seasonal factors typically provide a bullish backdrop, investors should remain cautious. Canadian markets experienced few major trend changes, but weakness spread through telecoms, base metals, small caps, and energy. In the U.S., money continued rotating into defensive sectors, with bond and utility ETFs generating weekly buy signals while consumer discretionary, telecom, metals, and mining stocks moved back onto weekly sell signals.
The video also highlights growing weakness among major technology stocks, with NVIDIA breaking below $200 and facing lower downside targets. Commodities including gold, silver, crude oil, and cryptocurrencies remain under pressure, while the VIX continues signaling elevated market uncertainty. Stephen concludes that geopolitical tensions and deteriorating market breadth make this an unusually risky environment, warning that many stocks could experience significant declines in the months ahead.
Stephen Whiteside
Sunday, June 28, 2026
