Market Hasn’t Even Unravelled Yet: The Real Crash About To Drop | Chris Vermeulen

Watch on YouTube ↗  |  November 25, 2025 at 04:49  |  41:23  |  The David Lin Report
Speakers
Chris Vermeulen — Chief Market Strategist, TheTechnicalTraders
David Lin — Founder & Host, The David Lin Report / ex-Anchor, Kitco News

Summary

Chris Vermeulen, chief market strategist at TheTechnicalTraders.com, says the current market correction is just the beginning and expects a much larger decline in equities. He has moved to cash and is bearish on Bitcoin, while remaining bullish on gold/precious metals and the US dollar. He also sees a potential bottoming setup in long-term bonds and warns that crowded mega-cap tech stocks could fall sharply.

  • Chris Vermeulen has moved to cash, expecting a much larger correction in the S&P 500 and broader equities.
  • He sees a head-and-shoulders pattern that could take the S&P 500 down 7-8% to around 6,140.
  • He is bearish on Bitcoin, expecting a drop to $50,000-$60,000 if stocks roll over.
  • He is bullish on gold and precious metals, targeting $5,100-$5,200 per ounce for gold.
  • He favors the US dollar, expecting a move to 116-121, and holds USD cash.
  • He likes long-term bonds (TLT) as a bottoming setup, though he is not buying yet.
  • He warns that crowded mega-cap tech names like Nvidia, Tesla, and Meta could correct sharply.
Ideas
Chris Vermeulen Chief Market Strategist, TheTechnicalTraders 3:16
Bearish crowded megacap tech names.
Chris Vermeulen is bearish on crowded mega-cap tech names like Nvidia, Tesla, and Meta. He views Nvidia's 16% decline as minor given the crowded, emotionally-driven positioning. He expects a much bigger correction in these stocks when the market unravels, as they are volatile and vulnerable to a broader risk-off move.
NVDA TSLA META MED
Chris Vermeulen Chief Market Strategist, TheTechnicalTraders 25:21
Bullish precious metals, targets gold $5,200.
Chris Vermeulen is bullish on gold and precious metals. He sees a series of bull flags and a stair-stepping uptrend. He expects gold to reach $5,100-$5,200 per ounce, with first resistance at $4,600-$4,700. He believes money leaving stocks will flow into precious metals for one last big push, after which he would exit the space.
SILVER GDX GLD HIGH
Chris Vermeulen Chief Market Strategist, TheTechnicalTraders 30:34
Bullish US dollar, expects move to 116.
Chris Vermeulen is bullish on the US dollar. He sees the dollar index putting in a rounding bottom and expects a big move up to 116, potentially 121, especially if financial problems emerge. He holds his cash in US dollars and expects the Canadian loonie to fall. He suggests playing the rising dollar via the UUP ETF.
UUP DXY HIGH
Chris Vermeulen Chief Market Strategist, TheTechnicalTraders 30:34
Bullish US dollar, expects move to 116.
Chris Vermeulen is bullish on the US dollar. He sees the dollar index putting in a rounding bottom and expects a big move up to 116, potentially 121, especially if financial problems emerge. He holds his cash in US dollars and expects the Canadian loonie to fall. He suggests playing the rising dollar via the UUP ETF.
CAD HIGH
Chris Vermeulen Chief Market Strategist, TheTechnicalTraders 32:52
Likes TLT, sees bottoming setup.
Chris Vermeulen likes long-term bonds (TLT) and sees them carving out a bottom. If the economy weakens and oil breaks down, inflation could drop quickly, allowing rates to be cut, which would push bonds higher. He also notes the return of the stocks-down-bonds-up correlation. He is not buying yet but believes most downside is already priced in.
TLT HIGH
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This The David Lin Report video, published November 25, 2025, features Chris Vermeulen discussing NVDA, TSLA, META, SILVER, GDX, GLD, UUP, DXY, CAD, TLT. 5 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Chris Vermeulen  · Tickers: NVDA, TSLA, META, SILVER, GDX, GLD, UUP, DXY, CAD, TLT