The stock market closed with losses, largely due to Nvidia’s decline of around 5%. Despite this, more stocks advanced than fell in the index. Investors are shifting away from AI-related stocks like Nvidia in favor of other options. Nvidia’s stock may face further challenges as it lost a critical support level at $125. Technical indicators suggest a possible trend reversal for Nvidia, with potential support at $105. Bitcoin’s recent performance may indicate a coming downtrend for the Nasdaq 100 as well.
Oil prices rose slightly, with resistance forming around $81.60. There is potential for further increases if this resistance is broken. Wingstop continues to show strong market performance, but there are concerns about a potential decline in the future.
Overall, market conditions appear uncertain, with various factors influencing different stocks and sectors. Changes in open interest levels and technical indicators will provide more clarity on future trends.
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https://www.investing.com/analysis/dow-jumps-as-investors-begin-to-rotate-out-of-nvidia-should-you-follow-suit-200649482
