Dow Jones futures rose modestly on Sunday night with S&P 500 futures and Nasdaq futures. Bitcoin pulled back slightly from Sunday after first peaking at 61,000.
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The stock market is splitting, but the rally is expanding significantly as more and more stocks from different sectors fall. A notable exception is the Nasdaq and growth stocks, but they still had a comfortable week.
Delta Air Lines (DAL), Las Vegas Sands (LVS) and Marriott International (MAR) is included in many travel stocks, which are bullish in the same pattern. United Airlines (UAL) is already clearing the new buy point.
Ally Lily (LLY) on Saturday further showed its drug Donanambe showed a cognitive decline in Alzheimer’s patients by 32% in Alzheimer’s patients in 18 months. That headline figure was released in January, lifting shares with LLY. More complete data was released at a conference and published in the New England Journal of Medicine. Some other secondary targets were mixed.
LLY stock rose on the results of a preliminary study in January. It is now in a flat base with 218.10 by points, gaining support at its 21-day exponential moving average.
Volkswagen Like last year’s Tesla’s Battery Day, VWAGY will host a battery-centric Power Day event on Monday before US markets open. VW earnings are due on Tuesday, when the ID4 crossover will launch in China and the US later this month. VW leads the charge of conventional auto tomakers rushing into electric vehicles. It could all put pressure on Tesla sales and prices, as well as Tesla stock. VW stock has been growing very fast in recent months General Motors (GM) and Ford Motor (F).
Swing trade ideas can turn into position trades on strength
Bitcoin Price Tops, 000 61,000
The price of Bitcoin continues to reach 61,788 on Saturday. Cryptocurrency retreated more than 60,000 on Sunday evening but has risen sharply since Friday. Bitcoin’s previous high on February 21 was just over 58 58,000. Many financial institutions are mainstreaming Bitcoin at least as a digital asset, while Tesla bought Bitcoin for 1.5 1.5 billion, one of several companies investing in cryptocurrencies. The 1. 91.9 trillion biden stimulus is commonly seen pouring more money into the bitcoin and financial markets.
S&P 500 additions
In the end NXP Semiconductor (NXPI), Penn National Gaming (Pen), Genrec Holdings (GNRC) and Caesar Entertainment (CZR) is ready to join the S&P 500 index before it opens on March 22. Shares rose 3% -7% late Friday evening on the news of the S&P 500. The NXP could buy the stock opportunity as it bounces off its 10-week line, while Penn National, Genre and Caesars do not appear to be functional.
Genrek and GM stock are on the IBD leaderboard. Genrek Stock and Tesla are on the IBD50 list.
Dow Jones futures today
Dow Jones futures 0.4% vs. fair value. S&P 500 futures are up 0.2% and Nasdaq 100 futures are up 0.2%.
Remember that overnight action in Dow futures and elsewhere does not necessarily translate into real trading in the next regular stock market session.
Join IBD experts as they analyze the additional stocks in the stock market boom on IBD Live.
Corona virus news
Worldwide coronavirus cases reached 120.40 million. Covid-19 deaths topped 2.66 million.
U.S. Cases of coronavirus in .0. million, with 7 deaths, more than 7,000 deaths.
The CDC said on Saturday that the U.S. 75.7575 million vaccinations were reported in the country, with the old daily record of 7.9 million. New one shot Of Johnson and Johnson (JNJ) vaccine is now joining this Pfizer (PFE) /Biotech (BTNX) and Modern (MRNA) vaccines.
The UK, Israel and the U.S. Rapidly vaccinating their populations, the continent has lagged far behind Europe. Many European countries have seen new Covid cases re-elected.
Stock market rally
The Dow Jones, S&P 500 and Russell 2000 reached all-time highs, with the stock market booming and expanding over the past several days.
The Dow Jones Industrial Average rallied 4.1% in the stock market last week, hitting a record high in the last four sessions. The S&P 500 index rose 2.6% while the Russell 2000 rose 7.35%. The Nasdaq Composite rose 3.1%.
The 10-year Treasury yield rose 10 basis points to a recent 13-month high of 1.63% on Friday.
Among the best ETFs, the Innovator IBD E0 ETF (FFTY) increased %% last week and the Innovator IBD Breakout Opportunities ETF (Boot) dropped 6.6%, both easily reclaiming their 0-day lines. Is. Eicher Extended Tech-Software Software Sector ETF (IGV) rose 2.7% and Vanek Vectors Semiconductor ETF (SMH) rose 0.9%. Both below their 50-day lines.
Reflecting on more speculative story stocks, Arc Innovation valued ETFA 8.2% and Arc Genomics ETF 7.8%, but both are well below their 50-day line.
Read the big picture every day to stay in tune with the market direction and leading stocks and sectors.
Swing trade ideas can turn into position trades on strength
VW Power Day
Monday’s VW Power Day is the Volkswagen de Facto answer to last year’s Tesla Battery Day, but without a whole year’s buildup. . It expects in detail its battery and infrastructure strategy, possibly showing progress in pack or cell technology.
On Tuesday, VW will release full-year figures.
VW shares jumped 19% so far in March, their best level since 2009, as investors buy into its EV strategy. Both GM stock and Ford are up 15% this month. VW and Ford are greatly expanded. GM Stoke cleared the volatile consolidation on Friday, but it seems to have expanded 15% above its 50-day line.
Tesla stock rose 2.7% in March and 16% last week. But it is also putting up resistance at its 21-day lethal moving average and below its 50-day line. Many very valuable growth stocks look similar to TSLA stock charts.
Stocks near 5 by point, economy set to reopen
Stock market analysis
The stock market is divided by the new highs of the Dow Jones, S&P 500 and Russell 2000, while the Nasdaq is just below its 50-day line.
Economic reopening plays are doing well, including mining, manufacturing, travel, transportation, various retailers and more.
And no wonder. The U.S. economy will turn from a massive recession to a major economic boom in about a year. Coronavirus restrictions decrease as vaccinations begin to return to normal activities, including prolonged inactive travel, and as cases decrease. Meanwhile, most Americans were rolling out $ 1.9 trillion Biden stimulus just weeks after the કો 600 verified Covid aid package. The White House and Congressional Democrats will have their eye on a larger spending bill later this year, including a trillion dollars for infrastructure.
To publish in travel stocks only, Trip.com (Tecom) moved ahead of the three-week tight pattern on Friday. The three-week tight is slightly above the eastern base, so it gives investors the opportunity to add shares or start a new position in TCom stock. United stock came out with the same short reassurance – though not a tight pattern – slightly above the base.
Delta Stock, Marriott, Hilton (HLT) and Hyatt (H) Arranging their own shelves. There is also the Las Vegas Sands stock, which has a three week tight that looks awkward on the daily chart but is very tight on the weekly.
Nasdaq l lag ging, but not losing
The Nasdaq gained solid gains last week, closing near the close of its weekly range after starting with a 2.4% slump on Monday. On Friday, the Nasdaq bounced back to its 50-day low as Treasury yields rose. But it is holding up relatively well, closing at 0.6% at Friday’s session high.
The Nasdaq has not yet confirmed that it has a foot in the rally effort and remains sensitive to a spike in Treasury yields. A Nasdaq follow-up day will ease fears that tech stocks will plunge broader markets in early March.
But even if the Nasdaq turns again, the name of growth seems to be damaged. The immediate rush to new heights may not seem normal for Tesla stock or other highly valued names. Also remember that Tesla and many of these stocks went on surprise runs last year. So there are many reasons why it may take weeks or months to rearrange them.
The rise in Bitcoin and other cryptocurrencies suggests that there is still a desire for speculative wealth, so there could be one more run in the name of highly valued growth. Even Bitcoin again pulled back to the technical levels, re-integrated for a few weeks before the explosion.
What to do
The good news about the split market is that while growth stocks are on injured reserves, many economic recovery recovery stocks are crashing and offering strong gains.
So investors don’t have to sit on the sidelines. While slim investors may be attracted to growth stocks for obvious reasons, many “model book” all-time winners are turnaround plays. You need to be flexible, and identify which stocks are working and which are not.
Look for stocks with strong relative strengths. Focus on people with strong earnings estimates and setting in a sound base.
If you don’t feel comfortable buying non-growth stocks, you can buy ETFs like SPY, IWM or XTM (Mining), JETS (Airlines) or XHB (Homebuilders). And you will always have cash until tech stocks recover properly.
Please follow Ed Carson on Twitter IBD_ECarson For stock market updates and more.
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