Monday Market Update: Nvidia Joins Dow, Oil Gains, Inside Day

In today’s Monday morning update, Stephen Whiteside from TheUpTrend.com discusses mixed activity in the stock market. Friday was an inside day following Thursday’s down day, and we await a breakout or breakdown from Thursday’s trading range. Key stocks in the news include Nvidia, which is set to replace Intel in the Dow 30, with Nvidia trading higher and Intel trading lower. Crude oil has gained in the premarket, potentially signaling a buy signal if the trend holds. Whiteside also highlights various sectors and stocks, including insurance, which saw a breakdown, while U.S. bonds declined. Canadian stocks showed mixed results, with some like Bank of Montreal experiencing an inside day and others like Cenovus hitting new lows. U.S. stocks like Peloton saw reversals, while Amazon had a significant reversal on Friday, trading above $200. Whiteside ends by emphasizing the need for a breakout from Thursday’s range to confirm any substantial market moves. Stephen Whiteside TheUpTrend.com Monday November 04, 2024 https://theuptrend.com/morning-market-outlook-11042024/