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While everyone watches Boeing and the Dow, this stock could be a better tell for the market

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Despite Boeing's big decline this week, a different industrial giant could point to the next move for the market.

div > div.group > p:first-child"> However, another industrial giant could point to a different direction for the rest of the market, according to Matt Maley, equity strategist at Miller Tabak.

United Technologies and the S&P now face a technical test that determines their next move, Maley said. Stacey Gilbert, head of derivatives strategy at Susquehanna, says options activity suggests a bet on United moving higher looks like a contrarian play.

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Boeing’s stock keeps Dow futures under pressure while broader market struggles for altitudeFutures for Nasdaq-100 edge higher on Tuesday but those for the S&P 500 and Dow remain under pressure as a fatal plane crash of a Boeing Co. aircraft over the weekend weighs on the blue-chip index.
Source: MarketWatch - 🏆 3. / 97 Read more »