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The Dow Jones Industrial Average briefly slipped over 200 points on Monday before erasing losses as Bitcoin plunged from record highs. Tesla stock fell after removing its Model Y SR + from its website.
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Among the leaders of the Dow Jones, Apple (AAPL) fell 2.7%, while Microsoft (MSFT) fell 3% in today’s stock market. caterpillar (CAT) is just outside the buy range above an entrance, while Nike (NKE) is approaching a new point of purchase.
You’re here (TSLA) slipped nearly 5% on Monday, as it collapsed to a key level.
Shoals Technologies (SHLS), Commercial office (TTD) and Veeva Systems (VEEV) are among the top stocks in or near buy zones in Monday’s stock action.
Apple, Microsoft and Tesla are stocks in the IBD rankings. Shoals Technologies was the IBD title of the day Thursday.
Dow Jones today
On Monday, the Dow Jones Industrial Average cut losses to less than 0.1%, while the S&P 500 was down 0.6%. The high tech Nasdaq composite sold 1.7% in midday trading.
Snapshot of the US Stock Market Today |
||||
|---|---|---|---|---|
| Index | symbol | Price | Loss of profit | % Change |
| Dow Jones | (0DJIA) | 31445.78 | -48.54 | -0.15 |
| S&P 500 | (0S and P5) | 3878.12 | -28.59 | -0.73 |
| Nasdaq | (0NDQC) | 13611.62 | -262.84 | -1.89 |
| Russell 2000 | (Etc.) | 224.34 | -0.85 | -0.38 |
| IBD 50 | (FFTY) | 47.92 | -0.98 | -2.00 |
Last updated: 11:02 AM ET 22/02/2021 |
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Among exchange-traded funds, the Innovator IBD 50 (FFTY) posted a drop of 1% on Monday. The Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) lost 1.1%. Meanwhile, the SPDR S&P 500 ETF (SPY) fell 0.5%.
Stock exchange rally
Looking back on the current uptrend, November was a key month for the stock market. IBD’s The Big Picture marked the new uptrend following the market’s bullish tracking day on November 4th. Meanwhile, in mid-February, the Dow Jones Industrial Average, the Nasdaq and the S&P 500 retreat from records.
Friday’s Big Picture commented: “Unable to find direction much of the day, the stock market closed very mixed on Friday. But it was not a wasted day for the bulls as small caps and the major stocks significantly outperformed. “
With recent strength, investors may remain in an offensive position, knowing that there are still good reasons for caution. Look for stocks that exceed the new buy points.
Focus on stocks that have shown strong relative strength during recent weakness. They could be among the market leaders if the indices are able to continue on their all-time high.
ETF stock market strategy and how to invest
Bitcoin price exceeds $ 58,000 before the dive
Bitcoin’s price topped $ 57,000 on Saturday and $ 58,000 on Sunday before briefly falling below $ 48,000 on Monday morning. Bitcoin traded around $ 53,100 in morning trading, according to CoinDesk.
The Grayscale Bitcoin Trust (GBTC) ETF slipped 7% and retreated after advancing nearly 16% last week.
Boeing stock reversals
Giant Dow Jones Boeing (BA) reversed Monday after initially crashing after one of its Boeing 777-200s made an emergency landing at Denver International Airport on Saturday shortly after take-off due to engine failure.
Boeing stock is around 36% from its 52-week high as it builds a base with a new buy point of 244.18.
Dow Jones Stocks: Caterpillar, Nike
In the Dow Jones Industrial Average, Caterpillar exits a 5% buy range above a 200.27 buy point in short-term consolidation. Stocks rose 0.5% on Monday morning.
CAT shares passed the buy point on February 16. The 5% buy zone ended at 210.28.
Elsewhere, Nike is approaching a buy point of 148.05 on a flat basis. Stocks slipped 1.9% in morning trading, as they test their 50-day line.
Stocks to watch: Shoals, Trade Desk, Veeva
Friday’s IBD stock Shoals Technologies is attempting to break through a buy point of 41.86 in an IPO base, according to IBD MarketSmith chart analysis. Shares briefly passed the entry early Monday before reversing lower 1.8%.
Trade Desk is trading at around 9% from a buy point of 972.90 in a cup basis. The stock jumped nearly 7% on Friday following the company’s strong fourth quarter results.
Early Monday, the Trade Desk slid about 2%.
According to IBD Stock Checkup, the Trade Desk stock shows a strong 98 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 indicators.
Software leader Veeva Systems is trading below a buy point of 314.09 in a cup base. The health sciences software company fell nearly 3% on Monday morning.
IBD Live: a new tool for daily stock market analysis
Tesla stock
Tesla stock threatened to extend a three-session losing streak on Monday, slipping more than 4%. Tesla removed the Model Y Standard Range Plus from its website on Sunday.
Stocks are breaking down through their 50 day moving average line, a critical support level.
On January 25, Tesla stock hit an all-time high at 900.40, having climbed 93% from a buy point of 466 in a handle mug.
Dow Jones Executives: Apple, Microsoft
Among the main stocks in the Dow Jones, Apple fell 2.7% on Monday. Apple stock is below its 10 week line, but a strong rebound above the level would be bullish for the stock’s outlook.
On February 18, the 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 handle cup.
Meanwhile, Microsoft fell 3% Monday morning. The stock remains in the 5% buy zone above a buy point of 232.96 which rises to 244.61.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen to learn more about growth stocks and the Dow Jones Industrial Average.
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