Chart of the Day - Tuesday, May 21, 2024

🏆 Today’s Chart of the Day was shared by Sam Gatlin (@sam_gatlin).

• All eyes are on Nvidia ($NVDA) as the company reports earnings tomorrow evening. However, other Mega-Caps are perking up again.

• Sam points out that Microsoft ($MSFT), the largest stock in the S&P 500, broke out to all-time highs today after consolidating for the past two months.

• Other Mega-Caps, like $GOOGL, are also breaking out to record highs.

The takeaway: The reaction to $NVDA earnings will be important, but it’s not the only stock keeping the indices afloat.