Dow futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures. The market rally continued last week’s gains, with a number of blue-chip stocks issuing buy signals.
The stock market rally showed resilience in the face of higher crude oil prices and higher Treasury yields. That, so far, is despite the Nasdaq’s dip on Friday. But don’t be complacent.
A modest pullback may be healthy for major indices and blue-chips. an Apple (AAPL) and especially Tesla stocks could benefit from the convenience. The handle will also be constructive to nvidia (NVDA), which has risen to the top in the past two weeks. Marriott International (March) with a handle, but could use a longer base.
Regeneron Pharmaceuticals (Region) has formed a high handle while trading in a buy zone, which provides a second chance or additional buying opportunity. GB Hunt Transportation Services (JBHT) pulled back down a buy pointBut she found support at some point.
at the same time, Exping (XPEV) announces fourth-quarter results early on Monday. China EV . competitor New (NIO), which reported mixed results late Thursday, will begin deliveries of its luxury EV sedan, the ET7, on Monday as well. This is part of a busy week for electric car makers in China, with deliveries possible in March as well.
XPEV shares and Nio shares sold off hard on Friday. This was partly due to Nio’s results and guidance, but it also reflected renewed write-off concerns for US-listed Chinese stocks in general.
The video included in this article covered another important week in the market and analyzed the MAR Stock, REGN Stock, and IBD Stock Of The Day Carlisle (CSL).
Dow jones futures contracts today
Dow Jones futures open at 6 p.m. ET on Sunday, along with S&P 500 and Nasdaq 100 futures contracts.
stock market rise
The stock market rally showed modest to strong gains last week, building on the massive advance last week.
The Dow Jones Industrial Average gained 0.4% last week stock market trading. The S&P 500 rose 1.8%. The Nasdaq Composite Index rose 2%. The small cap Russell 2000 sank 0.5%.
The 10-year Treasury yield jumped 34 basis points last week to 2.49%, the highest level since May 2019. This is up from the March 1 low of 1.68%. As quickly as the 10-year Treasury yield rose, the two-year Treasury yield rose even faster, narrowing the gap to just 20 basis points. The flat Treasury yield curve, inverted in some places, reflects expectations that the Federal Reserve will raise rates aggressively, and that economic growth will slow.
US crude oil futures rose nearly 12% to $113.90 a barrel last week.
between the Best ETFsThe Innovator IBD 50 ETF (fifty) rose 1.9% last week, while the Innovator IBD Breakout Opportunities ETF (fit) increased by 3.5%. iShares Expanded Technology and Software Fund (ETF)IGV) decreased 0.6%. VanEck Vectors Semiconductor Corporation (SMH) gained 2.3%. Nvidia stock is a major ownership of SMH.
Shares reflect more speculative stories, the ARK Innovation ETF (see you) is down 1.9% last week and the ARK Genomics ETF (ARKG) 2.8%. Tesla stock continues to rank number one among Ark Invest’s ETFs. Ark also owns some XPEV stock.
SPDR S&P Metals & Mining ETF (XME) rose 8.1% last week. Global Infrastructure Development Fund X US (cradle) gained 1.7%. US Global Gates Foundation (ETF)Planes) rose 1.1%, which is not a bad thing given higher energy prices. SPDR S&P Homebuilders ETF (XHB) by 8.8% on higher prices and weak housing reports. SPDR Specific Energy Fund (SPDR ETF)XLE(Jumped 6.6% and the Financial Select SPDR ETF)XLF) made 1.3%. SPDR Healthcare Sector Selection Fund (XLV) decreased 0.5%.
Apple stock rose 6.55% over the past week to 174.72, retracing the 50-day line and clearing an early entry for the downward sloping trendline. Shares close at 176.75 double bottom base Point purchase. But AAPL stock rose for nine consecutive sessions. Ideally, stocks will pause at least for a few days, or until they form an indicator to reduce the risk of a pullback after a breakout.
The line relative force It returned to record levels, reflecting the strong performance of the Apple stock against the S&P 500 index. The RS line is the blue line in the available charts.
Tesla stock jumped 11.6% in the last week to 1010.64, after rising 13.8% in the previous week. The official purchase point is 1,208.10, according to MarketSmith Analysiswith a shallow trend line offering a slightly lower entry around 1150.
Stocks lost a fraction on Friday, but after rising for eight straight sessions. Ideally, the TSLA stock will take a breather, and form a decent handle on the depth cup base Let the moving averages catch up. The 50 day line is still in a downtrend.
Tesla stock has held up much better than most other stocks with a triple-digit P/E ratio. But this remains a cause for concern as Treasury yields rise.
Tesla is likely to post another quarter of record deliveries for the first quarter, possibly as early as Friday, April 1.
Nvidia stock advanced 4.7% to 276.92 in the last week, reviving semiconductors after a nearly 20% rally the previous week. On Thursday, stocks got rid of short-term resistance levels, providing a solid entry. Just in the middle of the right side up of a deep consolidation with a potential 346.57 buy point, the NVDA stock could use a handle. The Nvidia stock may need to be slightly raised to form a proper handle, with the midpoint above the midpoint of the base.
Marriott stock rose 0.2% last week to 171.52. Stocks flopped on Friday with 173.54 early entries. After breaking out with several other travel stocks in early February, MAR’s shares sold off badly in the Russo-Ukrainian War. Rebound in V-shape consolidation. Point of purchase 173.54 is just above the top of the “handle”, which is not convenient because the fixation needs another week to form a proper base. Also the entry is close to the previous buy point which is no longer valid but still noteworthy.
After strong gains in the past two weeks, REGN stock fell 0.8% to 680.03 last week, building a higher handle in the buying zone at flat base. Regeneron stock is still above 673.96 buying points, which now looks much safer after the last stop. REGN stock has already liquidated early entries near 636 and 645.
JB Hunt stock is down 2.7% to 209.19, drifting lower for several sessions after the strong breakout on March 6. The decline was relatively soft, which was not surprising given the high energy prices over the past several days. But JBHT stock fell below 208.97 buying points of the flat base late last week, but on Friday rebounded from the 21-day line to return to the buying zone. Investors can buy the trucking company here, or wait for JBHT stock to break the short downtrend by reaching Thursday’s high of 213.29.
Market Rise Analysis
The stock market rally had a good week, with the Nasdaq rallying strongly and the S&P 500 regaining its 200-day streak. The Dow Jones is approaching the 200-day line. Russell 2000 fell modestly.
It is impressive that the Nasdaq in particular has been able to rally strongly in the past two weeks despite the rise in Treasury yields during that time. It’s hard to believe that growth stocks can continue to advance if bond yields continue to rise at such a rapid pace. But it could have been said a week ago.
However, major indicators sometimes ignore interest rate hikes for some time in order not to.
Much of the strength of the Nasdaq index last week was strongly reflected in sharp gains in major companies such as Apple, Tesla, Nvidia and Google Parent the alphabet (Google). ARKK’s decline last week, although relatively modest, suggests that higher Treasury yields may start to weigh on high-value growth stocks.
One concern is that if these mega companies lose steam, growth stocks will sell out sharply, especially ARKK-type stocks.
However, a modest market pullback should help Tesla, Nvidia, Apple and more stocks handle shape and allow their moving averages to catch up. It will also reduce the risk of a more severe slippage in the market.
On the other hand, JBHT stock could use some market power, or maybe even lower energy prices.
Energy and commodity stocks continue to be strong. There are a few of them in or near the purchasing areas, such as Petroleum Marathon (MPC), Civitas (CIVI), seashells (shill) And the a horse (a horse), but many other sectors have either extended or fallen behind in recent months.
What are you doing now
Investors were supposed to increase their exposure over the past week, taking advantage of new buying opportunities. But investors may wait and see if the market will pull back and create a new set of setups.
Work on these watch lists, focusing on stocks that might visit other buying handles and points.
If the market goes up and then goes higher, you will be in a position to jump on early breakouts and entries. If the major indexes drop further, and break the 50-day lines, your exposure will not be very high.
Read The Big Picture Every day to stay in sync with the trend of the market, stocks and leading sectors.
Please follow Ed Carson on Twitter at Tweet embed For stock market updates and more.
You may also like: