Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Boeing Unexpectedly Takes the Spotlight From Nvidia

Published 2024-05-24, 08:32 a/m
DJI
-
BA
-
NVDA
-
GSPTSE
-
VIX
-

Thursday was expected to focus on Nvidia (NASDAQ:NVDA), but Boeing (NYSE:BA) unexpectedly took the spotlight.

If you were trading Nvidia and had a sell order around $1,000, it likely got filled at the open, with prices jumping to $1,020. Now, it's a waiting game.

Conversely, Boeing moved in the opposite direction, dragging the Dow down with it.

Last week, we were celebrating the Dow trading above 40,000, but we've now lost a thousand points.

On Thursday, the Canadian market experienced some downward pressure, with commodities trading lower across the board.

Despite this, the NASDAQ 100 and the S&P 500 remain on daily buy signals, while the VIX is still on a daily sell signal.

With a three-day weekend ahead, Friday is expected to be relatively quiet as traders head off to enjoy the break.

Although the Canadian market will be open on Monday, we will disregard any activity north of the border, as it will be thinly traded. If a global event causes the TSX to move more than 200 points on Monday, we will update the charts Monday night.

We remain short-term bullish on the overall market, as long as the VIX closes below 13.20 on Friday.

This content was originally posted on the Stock Market Timing YouTube Channel

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.