Tuesday Pre-Market: Crypto Surges, VIX Drops & S&P at 6,000 – Key Market Insights

In today’s Tuesday morning pre-market update, Stephen Whiteside from TheUpTrend.com notes the current stock index futures trading below fair value, with Home Depot’s earnings rising amid recovery efforts after recent storms. Cryptocurrencies like bitcoin and Ethereum saw gains following the U.S. election, and major stocks such as Coinbase and Bitfarms have also spiked. Meanwhile, reduced market fear, as indicated by a drop in the VIX, hints at potential support for higher stock prices. Stephen emphasizes the role of big round numbers as psychological markers, with the S&P hovering around 6,000, acting as resistance. In commodities, oil and gasoline prices declined, while natural gas gained. Copper stocks are struggling, and precious metals dropped, affecting both U.S. and Canadian stock performances. Stephen also reviews trending U.S. and TSX stocks, noting movements for Tesla, Nvidia, and Shopify. Stephen Whiteside TheUpTrend.com Tuesday, November 12, 2024 https://theuptrend.com/morning-market...