In today's market update, Stephen Whiteside discusses the positive outlook for stock index futures, with Bitcoin and gold also seeing gains. Despite a decrease in crude oil prices, volatility is expected to rise later in the week with the Fed's meeting and earnings reports. The Fear Index remains in a sell signal, supporting higher stock prices. Currency movements show mixed results, with the US Dollar up and the British pound and yen facing weakness. Bond markets are also in flux, with the bond sell-off suggesting anticipation of the Fed's actions.

Moving on to commodities, oil and natural gas are on buy signals, with copper and silver experiencing downturns. In the stock market, the Dow continues to be a barometer for mainstream media, despite its reduced relevance in trading. Specific stocks like Broadcom performed well, while others, such as Airbnb and Supermicro, struggled. The S&P 500 remains in focus, showing signs of internal weakness, with the Magnificent Seven tech stocks still holding up the market. Regional markets like Canada are also showing signs of weakness, especially in gold and energy stocks, as financials face downturns.

Stephen Whiteside

TheUpTrend.com

Monday, December 16, 2024

https://theuptrend.com/morning-market-outlook-12162024/