Stocks Can Still Climb, But Market Warning Signs Are Building

ByTTT

In this interview with David, I walked through why I’m becoming more cautious with the stock market, even though parts of the market may still have room to push higher. The issue is not just price, it is the rotation taking place under the surface. When leadership becomes narrow, defensive areas start to improve, and momentum begins to stretch, it tells me that risk is building. I am watching key upside levels, the strength of the dollar, and how the S&P 500 reacts near resistance because those pieces can help confirm whether this rally still has fuel or whether it is starting to run out of steam.

My main focus remains on reading price action and managing risk, not trying to predict every market move. Stocks can continue higher longer than many expect, but when the charts start showing exhaustion, failed breakouts, or a shift in money flows, that is when caution becomes more important. We also covered gold, Bitcoin, oil, gas prices, and Canada, with each market showing its own message through trend, momentum, and sentiment. Gold and Bitcoin remain important risk and liquidity gauges, while oil and gas continue to reflect broader economic pressure. Overall, I’m worried because the market is no longer as clean as it was earlier in the rally, and this is the type of environment where discipline matters most.

Recorded June 5, 2026

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Topics that David and I discussed include:

Chris Vermeulen
Chief Investment Officer
TheTechnicalTraders.com

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