The market's acting like it's got one foot on the gas and one on the brakes right now.
Some stocks are rising. Others are rolling over. Volatility is creeping up. Oil is dropping back. And uncertainty is growing as Wall Street braces for the Supreme Court's decision on President Trump's tariffs.
But if you know where to look, the clues of the market's next act are all there.
And today, I'm going to walk you through the 10 most important stocks to watch over the next seven days… and why.
Let's get started.
1. SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA)
The Dow hit a record high last week ($48,254.82), and it hasn’t stopped. It continued climbing this week, extending its breakout and reinforcing the bullish tone across the broader market.
This tells us that the "old guard" of the market is still holding the wall, but it's feeling the pressure. And if that pressure becomes harder and harder to bear, it could set the tone for broader weakness in the market. If it holds steady, then that could calm any jitters investors are feeling.
And right now, that's exactly what it's doing. As of early December, DIA has cleared that high and continued its march higher, a clear signal that institutional money is still leaning into the Dow.
2. SPDR S&P 500 ETF (NYSE:SPY)
The S&P 500 (SPY) went on a run earlier this year, but that momentum we saw around Memorial Day had started to lose steam. Warnings of an "AI bubble" were getting louder, and nervousness about the Fed's next move helped fuel a retreat from those Memorial Day highs.
But that pullback didn't last.
SPY has since climbed past those Memorial Day highs and is now pushing up against a new ceiling as of early December. That's a good sign for now, but we'll want to keep an eye out in case the rally starts to lose steam.
3. Invesco QQQ Trust (NASDAQ:QQQ)
Tech has been leading the pack all year long, and QQQ tells us whether that continues. After hitting recent highs near 635, it pulled back but has bounced back since. And in fact, it didn't just bounce, it broke through.
That's a clear signal that tech is still steering the ship. But volatility is still at its highest since summer. And when tech leads lower, it usually drags the rest of the market with it. So even as we celebrate this move higher, we need to stay alert for signs of reversal.
4. iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT)
Bonds are the key to interest rate expectations. Right now, TLT is stuck right in the middle, where the short-term, medium-term, and long-term trends are all running into each other. It's like traffic at a four-way stop. Something's about to move, and when it does, it could set the tone for everything else.
If it bounces from here, it could signal the market is betting on rate cuts. If not, we could be in for more volatility. In other words, TLT is the battleground between inflation and Fed policy, and whichever way it moves will likely ripple through the rest of the market.
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5. United States Oil Fund (NYSE:USO)
USO tells us a lot about inflation and energy demand. And while the broader trend has been down (with lower highs and lower lows defining the chart for months), signs of life are showing. Oil prices ticked up again today, which could be an early signal of a shift, unless it turns out to be just another blip.
And with geopolitical tensions simmering and winter weather patterns emerging, that's not off the table. So, keep USO on your radar, even if it's quiet right now.
6. United States Natural Gas Fund (NYSE:UNG)
UNG has been quietly rebounding off its lows. It's shown strength since mid-October, and now that strength is becoming obvious. With natural gas prices on the rise this week, UNG is pushing back toward $15.50.
That puts the prior breakout level in play. And if we get a cold winter, this could be the fuel that fires it higher.
7. SPDR Gold Shares (NYSE:GLD)
Gold cooled off a bit after hitting all-time highs in October. In fact, it's been holding steady. And if it keeps this up, we could see it make another push toward those recent highs.
And now, we're seeing exactly that. Just this past Monday, GLD ripped to a six-week high, another sign that traders are piling back into gold as a safe haven.
Overall, nothing about my bullish outlook has changed. Rates are still in play, global tensions are still rising, and inflation isn't out of the conversation. That's the kind of backdrop where gold tends to shine. Unless we get a huge shift back into riskier assets, I expect buyers to stick around.
In uncertain times, gold is the insurance play, and GLD is the best way to track it.
8. iShares Silver Trust (NYSE:SLV)
Silver is following gold’s lead, showing nearly identical price action. SLV hit recent highs in October, pulled back, and is now pushing higher again.
And now, it's making another strong move. SLV surged again this week, confirming the momentum we’ve been tracking. That recent outperformance could mean an even stronger move ahead, because silver often plays catch-up. And when gold moves first, silver can move faster. So, keep an eye on both, especially if GLD breaks out first.
9. CBOE Volatility Index (VIX)
The VIX is still the best fear gauge we've got. And right now, it's doing its job. After a couple of quick spikes in October and early November, it drifted back down. As long as it stays below those recent highs (around 18 to 20), the market stays in "risk-on" mode.
But here's the deal. If the VIX suddenly jumps, that's your warning flare. It usually means something broke—and fast. On the flip side, if it keeps drifting lower, that tells us traders are still comfortable leaning into risk. Simple, but powerful.
10. Alphabet Inc. (NASDAQ:GOOGL)
This is the wildcard, and a potentially explosive one.
Google had been pushing up against its $290 ceiling since late October. Then, the news broke: Warren Buffett's Berkshire Hathaway took a multi-billion-dollar position. GOOG exploded higher on that news—and that lit a fire. As of December, GOOGL has broken that ceiling and is now trading above $321.
The Buffett move clearly moved the needle. But now, I'm watching to see if this rally has legs or if the next domino is about to fall. Either way, GOOGL's breakout should have your full attention.
How to Use This for Profit
First, this basket of stocks and exchange-traded funds (ETFs) covers every major driving force in the market.
You've got stocks, bonds, commodities, tech, and even volatility. That's the edge. And when you understand what each one is doing (and where the money is flowing) you'll know where to look next.
