Short-term decline in Boeing

On February 10, we made the following comment:

Last week, Boeing (BA) rallied to 413.88, a new all-time high (ATH) and a level above the 394.28 Oct. 3, 2018 prior all-time high, in a sign the bull market since March 2009 remains intact. BA’s rally to a new ATH is an indication that the major equity indices should ultimately retest their Sept-Oct. 2018 ATHs. Short-term, however, BA is overbought, so it may pull back to the 360 support level, before continuing higher, as per the chart below.

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