1. Remembrance Day in Canada, Veterans Day in the U.S.
Today is Remembrance Day in Canada and Veterans Day in the U.S.
Banks are closed, and we’ll likely see low trading volume across the board.
Just something to keep in mind — price moves might look more dramatic than they actually are.
2. S&P 500 Bounces at 50-Day Support
The S&P 500 bounced right at its 50-day moving average — not surprising at all. This is been happening for a bit.
Now the question is: how much follow-through do we get from here?
The trend still points upward, but one thing worth noting — AI, data centre, and chip-related news hasn’t been overly rosy or optimistic lately.
3. Silver Breaks Out of Its Range
Silver had a strong move yesterday, breaking out of its dreadful trading range.
Could it go back to all-time highs? It’s possible.
Keep an eye on the “squeeze” narrative — if that starts gaining traction, there could be serious upside.
It may sound crazy, but my best-case scenario for silver sits around $75–$90. Yes, I know that sounds bold — but not impossible.
4. Bitcoin Holding, But Downtrend Intact
The $101K–$102K zone was a major support level for Bitcoin, and it held firmly.
However, the downtrend that began in early October remains intact.
If Bitcoin fails to break above near-term resistance, that same support zone could get tested again. A break below 101K–102K would likely hurt sentiment across the crypto space.
5. Bond Market Holding Firm, Canada Cuts Ahead?
U.S. 10-year yields aren’t calming down — looks like the bond market is buying into the idea that the Fed won’t cut in December. That could change once more economic data rolls in.
The Canadian dollar is bouncing slightly against the USD, but the broader trend still points downward. A BoC rate cut seems increasingly likely. But, time will tell more.
Meanwhile, nuclear energy chatter is heating up again — driven by data centres’ massive power needs.
SoftBank reportedly sold its entire stake in Nvidia (NVDA).