Stephen Whiteside’s weekend market update highlights continued strength in major North American equity markets despite growing economic and credit-market concerns. The NASDAQ and semiconductor sector led gains in May, while small- and mid-cap stocks outperformed large caps. U.S. healthcare and pharmaceutical sectors generated weak weekly buy signals, while financials showed signs of weakness with flat-to-negative monthly performance. Commodities remained active, with crude oil, gasoline, and copper hitting new highs before pulling back.
The update also emphasized rising market speculation and elevated risk conditions. Whiteside pointed to record S&P 500 call volume, high hedge fund short exposure, and historically low VIX levels as warning signs of excessive optimism. While the broader market trend remains bullish, he cautioned that this may be the riskiest time to commit new capital. The video concludes with a review of strong semiconductor stocks including AMD, Marvell, and ASML, while reinforcing that no major bearish signals have emerged yet.
Sunday, May 24, 2026
