[ad_1]
Dow Jones futures, along with S&P 500 and Nasdaq 100 futures, were higher after technology weakness on Monday, as Treasury yields climbed near recent highs. DraftKings, Tesla Stock and Zoom Video fell further on Monday, as giant Dow Boeing jumped into the buy range.
X
On Monday, the high-tech Nasdaq composite significantly underperformed, falling 0.6%, while the small-cap Russell 2000 fell 2.8%, finding resistance at its 50-day line. The S&P 500 fell 0.1%, while the Dow Jones Industrial Average traded up 0.3% to a record high. Meanwhile, the small-cap Russell 2000 fell 2.8%, finding resistance at its 50-day line.
Among the leaders of the Dow Jones, Apple (AAPL) rose 0.15% on Monday, while Microsoft (MSFT) fell 0.5% in the current stock market. Boeing (BA) is back in the buy range after Monday’s bullish move.
You’re here (TSLA) slipped more than 1% on Monday, adding to Friday’s 3.4% drop.
Among the best stocks to watch, FANG leaders Alphabet (Google T Facebook (FB) are approaching new points of purchase.
Microsoft and Tesla are stocks in the IBD ranking. Boeing was the IBD headline for Monday, while Alphabet and Facebook were listed in this week’s Stocks Near A Buy Zone column.
Dow Jones Futures today
After the market closed on Monday, Dow Jones futures were up 0.15% from fair value, while S&P 500 futures were up 0.2%. Nasdaq 100 futures contracts increased 0.3% from fair value. Remember that trading Dow Jones futures and elsewhere does not necessarily translate into actual trading during the next regular trading session.
Snapshot of the US Stock Market Today |
||||
|---|---|---|---|---|
| Index | symbol | Price | Loss of profit | % Change |
| Dow jones | (0DJIA) | 33,172.29 | +99.41 | +0.30 |
| S&P 500 | (0S and P5) | 3971.29 | -3.25 | -0.08 |
| Nasdaq | (0NDQC) | 13059.65 | -79.08 | -0.60 |
| Russell 2000 | (Etc.) | 214.44 | -6.17 | -2.80 |
| IBD 50 | (FFTY) | 42.44 | -1.33 | -3.04 |
Last updated: 4:38 PM EST 3/29/2021 |
||||
On Monday, the 10-year Treasury yield climbed to 1.728% before closing at 1.721%, adding to Friday’s gains. The 10-year Treasury yield is just below its recent highs reached on March 19 at 1.754%.
Among exchange-traded funds, the Innovator IBD 50 (FFTY) posted a 3% drop on Monday. The Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) lost less than 0.1%. Meanwhile, the SPDR S&P 500 ETF (SPY) also fell by less than 0.5%.
Stock rally: is the Nasdaq ready for another test?
Amid the current stock rally, the Dow Jones Industrial Average hit all-time highs on Monday, while the S&P 500 Index broke a two-day winning streak.
Meanwhile, the tech-heavy Nasdaq remains below its key 50-day moving average. The Nasdaq will need to overcome this major hurdle in order to maintain its upward trajectory. The 50 day line is a critical potential resistance level. If the Nasdaq decisively erases it, new highs could be on the horizon.
Friday’s Big Picture commented: “Strong stock market rallies gave the impression of confirmation of a recovery. The S&P 500’s gain in higher volume qualified as a follow-up. Leading stocks performed well. – much better than at the start of the week. With new strength in indices and better stocks, the market’s uptrend has resumed, as far as the market outlook for IBD is concerned. “
Despite a resumption of the uptrend, the turmoil in the stock market made progress difficult. Given these difficulties, it is best to maintain a more conservative stance until the market proves that its recent strength is not fleeting.
ETF stock market strategy and how to invest
Bitcoin price
Bitcoin briefly exceeded $ 61,000 in mid-March to hit an all-time high. The price of Bitcoin peaked on March 13, reaching $ 61,556.
The price of Bitcoin rose about 7% on Monday to trade around $ 57,400, according to CoinDesk. The Grayscale Bitcoin Trust (GBTC) looked to continue its rebound from the 50-day moving average, jumping 6.5%.
Dow Jones Stocks: Boeing
In the Dow Jones Industrial Average, Boeing is back in the buy range above a 244.18 buy point on a cup basis. The 5% buy range goes up to 256.39.
Stocks rebounded 2.3% on Monday after Southwest Airlines (LUV) has added 100 orders to its Boeing 737 Max jet contract. The first 30 jets are expected to be delivered in 2022.
Boeing was billed as the IBD title of the day Monday.
Speculative rulers fall
Tech leaders sold heavily on Monday, as the stock market’s rotation out of speculative growth stocks continues.
DraftKings (DKNG) fell 8.5%, closing below its 50-day line for the first time since a Jan. 14 breakout above the 56.08 buy point of a handle-cup. The title is more than 20% off its 52-week high, set just five sessions ago on March 22.
Big winner 2020 Video zoom (ZM) fell nearly 4%, hitting a new recent low. The shares are near 50% of their all-time high of 588.84 they set on October 19.
Stocks close to purchasing areas: Alphabet, Facebook
IBD Leaderboard Alphabet stock continues to form a flat base with a new buy point at 2,145.24, according to chart analysis from IBD MarketSmith. Shares are about 5% off the new entry amid Monday’s 1% gain.
According to the rankings commentary, “Alphabet has made better strides than other large cap tech lately. Support at the 21-day line is now shaky. Watch the stock for support as it tests the line. of 50 days. The last base was Stage Two. “
Facebook, another FANG stock leader, plots a cup with a handle with a buy point of 299.81. Shares rose 2.8% on Monday and are around 3% of the new entry.
According to IBD Stock Checkup, the FB stock shows a strong 91 out of a perfect IBD composite rating of 99. The IBD composite rating helps investors easily measure the quality of a stock’s fundamental and technical metrics.
IBD Live: a new tool for daily stock market analysis
Tesla stock
Tesla stock fell 1.2% on Monday, adding to Friday’s 3.4% loss.
Tesla shares closed around 32% of their 52-week high on Monday. Tesla stock could form a new base, but it’s too early for a new risk-based optimal buy point.
On February 22, Tesla broke its main line 10-week moving average, a critical support level. On January 25, Tesla stock hit a record high at 900.40, after climbing 93% from a buy point of 466 in a cup.
Dow Jones Executives: Apple, Microsoft
Among the best stocks in the Dow Jones, Apple rose 0.15% on Monday, extending a three-session winning streak. Apple stock is rebounding from its long-term 40 week line and may soon try to recover its 10 week line again soon.
On February 18, Apple stock triggered the 7% to 8% loss reduction sell rule when it fell more than 7% below its buy point of 138.89 in a cup with handle.
Meanwhile, software giant Microsoft fell 0.5% on Monday. Stocks are back above their buy point of 232.96 and move closer to a buy point of 246.23 in a new flat base.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen to learn more about growth stocks and the Dow Jones Industrial Average.
YOU MAY ALSO LIKE:
Top growth stocks to buy and watch
Learn how to time the market with IBD’s ETF Market Strategy
Find the best long-term investments with IBD’s long-term leaders
MarketSmith: research, charts, data and coaching in one place
How to find growth stocks: why this IBD tool makes it easy to find top stocks
[ad_2]
Source link