Markets experienced widespread sell signals on Friday, confirming the long-anticipated expansion in volatility that traders had been expecting since late summer. The S&P 500 and other major U.S. indices erased recent gains, returning to levels last seen in mid-September. The VIX surged more than 30%, signaling a major shift from a bullish to a bearish long-term outlook. Stephen Whiteside compared the move to the prelude of the 1987 crash but emphasized that Friday’s drop was not nearly as severe.
In both U.S. and Canadian markets, sectors such as energy, financials, and banks moved back onto sell signals, while gold stocks and semiconductors showed relative strength. Canadian markets remain somewhat stronger, supported by metals and utilities. Whiteside advised traders to act on new sell signals and long-term investors to remain patient until more evidence confirms a true trend reversal.
Stephen Whiteside
Sunday, October 12, 2025
