Stock Market Today With IBD

The Dow Jones industrial average briefly crossed the 40,000 level but backed off highs by the close along with the Nasdaq and S&P 500. Decliners beat advancers on both exchanges by a small margin after the Nasdaq confirmed the latest uptrend Thursday with a follow-through day. First Solar is approaching an alternate entry; Hartford Financial gave an early buy signal as it forms a flat base; MercadoLibre is trying to clear a new entry. Learn more about your ad choices. Visit megaphone.fm/adchoices

Weaker-than-expected retail sales and a palatable reading on consumer prices fueled a fresh round of buying. The 10-year Treasury yield and U.S. dollar fell sharply. Breadth wasn’t great on the Nasdaq at less than 2-to-1 positive. Winners beat losers on the NYSE by just over 2-to-1. Lennar rallied with other homebuilders, while Azek moved bullishly above its 50-day line. Broadcom rose to the top of an 11-week consolidation. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Nasdaq is nearing a record high, while leading stocks continue to act well. On Holding gapped out of a base on strong earnings. Embraer raced back above a buy point a few days after its quarterly results. CrowdStrike is holding in range of an aggressive entry within a base. Learn more about your ad choices. Visit megaphone.fm/adchoices

Indexes were mostly flat on Monday and after a strong showing last week, that’s constructive. We still have stocks setting up including Pure Storage forming a shallow double bottom, Costco potentially ready for a handle and PulteGroup with a shallow cup with handle. Learn more about your ad choices. Visit megaphone.fm/adchoices

As the market starts to trend above a key level, now is the time to take a more bullish stance. Mike Webster and Alissa Coram walk through this week’s technical action and stocks to watch in the Friday extended version of Stock Market Today. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Dow Jones extended its winning streak to seven sessions. The 10-year Treasury yield eased 3 basis points to around 4.45% after jobless claims came in stronger than expected. Celsius made a bullish move after a volatile reaction to earnings earlier in the week; Manulife cleared a base and is still in a buy zone; Williams-Sonoma is back near highs with earnings coming up. Learn more about your ad choices. Visit megaphone.fm/adchoices

Small caps were under pressure all day, but the Nasdaq composite and S&P 500 pared early losses. Decliners beat advancers by less than 2-to-1 on both exchanges as utility stocks outperformed. Taiwan Semiconductor isn’t far from a new entry as it forms a double-bottom base; Aerovironment could try to add a handle to its current pattern; Jefferies is near the top of a shallow cup base. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes paused Tuesday after a trio of solid gains. A number of stocks still flashed buy signals, often on earnings, though there were big losers as well. Star Bulk Carriers broke out with Ares Management and Embraer near buy points. Learn more about your ad choices. Visit megaphone.fm/adchoices

Remember that sharp break in the market indexes last month? Seems that the market is putting that worrisome week in the rearview mirror as it hurdles over another potential area of resistance. For stocks, Tradeweb. Learn more about your ad choices. Visit megaphone.fm/adchoices

With Friday’s jobs report reigniting rate-cut hopes, along with positive reactions to earnings from Apple and Amgen, the Nasdaq composite decidedly cleared the 16,000 level. Mike Webster and Alissa Coram walk through this week’s technical action and stocks to watch in the Friday extended version of Stock Market Today. Learn more about your ad choices. Visit megaphone.fm/adchoices

Winners beat losers on the Nasdaq by more than 2-to-1. The ratio was around 4-to-1 positive on the NYSE. The 10-year Treasury yield popped early but reversed slightly lower ahead of Friday’s jobs report, which is expected to show nonfarm payrolls up 243,000. Qualcomm soared after reporting earnings and giving bullish revenue guidance, while ResMed and TechnipFMC continue to show strength. Learn more about your ad choices. Visit megaphone.fm/adchoices

The market initially breathed a sigh of relief that it didn’t get a hawkish statement from Fed Chairman Powell. He acknowledged that inflation is still too high, but he also said the Fed would slow down its bond selling, which could cause downward pressure on rates. Pinterest soared on bullish Q1 results; Booz Allen Hamilton and Aerovironment are building new bases. Learn more about your ad choices. Visit megaphone.fm/adchoices

The S&P 500 and Nasdaq pulled back from their 50-day lines to undercut their 21-day lines, awaiting the latest Fed meeting and other big news. Eli Lilly jumped on earnings, flirting with a buy signal. Learn more about your ad choices. Visit megaphone.fm/adchoices

While it’s nice to see indexes on the upswing, there’s more work to be done. Specifically, the 50-day line is looming for indexes and could be a place where bears wrestle control again. And don’t forget a heavy earnings week is on tap to add a potential catalyst for a trend change. Still, a number of individual stocks are looking promising. Carrier Global is working on cooling the artificial intelligence “heat wave.” United Rentals is shaping up a double bottom. Finally, Howmet Aerospace is still holding strong forming a flat base. Learn more about your ad choices. Visit megaphone.fm/adchoices

After last week’s bad break, Alphabet is trying to help the market get its mojo back. As stocks snapped back on Friday, Nvidia, Astera Labs and Cava flashed buy signals. In this extended edition of Stock Market Today, Alissa Coram and Mike Webster review the market’s changing character, levels to watch and how to adjust your portfolio – and your expectations – accordingly. Learn more about your ad choices. Visit megaphone.fm/adchoices

The first estimate to Q1 GDP came in at 1.6%, well below the 2.3% consensus. Core inflation on a year-over-year basis also came in above expectations, raising fears of stagflation. Stocks moved off lows even as the 10-year Treasury yield rallied above 4.70% and hit a five-month high. It’s been an orderly pull back for Southern Copper so far; Sweetgreen is holding support at its 10-week line; Blue Owl Capital is still in a buy zone ahead of earnings next week. Learn more about your ad choices. Visit megaphone.fm/adchoices

Breadth was weak all day even when the Nasdaq was near session highs. The 10-year yield rose near its high for the year, up 5 basis points to 4.65%. After earnings reports from META and ServiceNow, Microsoft and Alphabet are next up on the earnings calendar. Stocks to watch include Hubbell, Ingersoll Rand and Natera. Learn more about your ad choices. Visit megaphone.fm/adchoices

The indexes rose solidly for a second straight session, but don’t get excited yet by the nascent rally attempt, especially with earnings season kicking into high gear. TransDigm is on the cusp of a buy signal amid strength in aerospace names. Neurocrine Biosciences jumped toward possible entries on positive drug news. Chipotle is setting up nicely with earnings on tap. Learn more about your ad choices. Visit megaphone.fm/adchoices

Indexes faded into the close but still ended with solid gains. But don’t be tempted. One day isn’t enough to change a trend. Still it’s worth noting stocks that are doing well. On the defensive end, Church & Dwight broke out of a flat base, Alphabet has reestablished itself as a relative strength leader and Heico is flirting with resistance around 200. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes suffered significant losses Friday, with the S&P 500 breaking below the key 5,000 level. Last Friday was an expectation breaker, signaling more weakness could follow – and that’s exactly what we got. The bull market precedent of 2003 is officially broken. Nvidia and SMCI provide two big clues about the market’s unhealthy action, while Sprouts is one of the few setups out there to watch. Mike Webster provides homework to get you ready for next week. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Nasdaq composite and S&P 500 extended their losing streaks to five sessions after early gains faded. The Nasdaq held up relatively well despite an earnings sell-off for Taiwan Semiconductor. The 10-year Treasury yield added 5 basis points to around 4.64%. Embraer and Quanta Services are pulling back in constructive fashion, while Texas Roadhouse is setting up in a new base. Learn more about your ad choices. Visit megaphone.fm/adchoices

The 10-year Treasury yield dropped 7 basis points to around 4.59%, but sellers still hit growth stocks hard. Oil fell 3% to around $82.75 a barrel. Eli Lilly initially popped on positive news but couldn’t hold gains; Itron is setting up in a nice base; Google parent Alphabet is still showing strength with a relative strength line near highs. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes held their ground despite comments from Fed chief Jerome Powell, but remain below their 50-day moving averages. Some leading stocks had solid sessions, including Sea Limited, DraftKings and Datadog. Learn more about your ad choices. Visit megaphone.fm/adchoices

The back-and-forth between Iran and Israel is still putting some pressure on stocks and raising volatility. An early morning gap up faded and then some by the close with few areas left unscathed. Atkore had a nice move higher finding support at its 10-week line as did Casey’s General Stores. Meanwhile, HealthEquity has been skirting around its 10-week line for a few weeks now and just isn’t bowing to downside pressure. Learn more about your ad choices. Visit megaphone.fm/adchoices

Thursday looked promising, but now we need to readjust our expectations. Learn more about your ad choices. Visit megaphone.fm/adchoices

Breadth was lackluster again, along with volume, but leading stocks continue to act well. Winners had a slight edge over losers on both exchanges. In the chip sector, Broadcom and ASML are setting up in new bases with healthy RS lines, while Airbnb is in a buy zone. Learn more about your ad choices. Visit megaphone.fm/adchoices

Sellers hit stocks hard after core consumer prices on a year-over-year basis came in hotter than expected for the fourth straight month. The 10-year Treasury spiked 19 basis points to 4.56%. Declining stocks outnumbered advancers on the Nasdaq by nearly 4-to-1, but buyers lifted the index off lows by the close. Axon and Ares Management are both forming flat bases, while Cava is in an alternate buy zone. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes didn’t make big moves Tuesday ahead of Wednesday’s CPI inflation report. Nvidia stock slumped Tuesday, undercutting recent lows but finding 10-week line support. Royal Caribbean fell below a recent buy point. But Nutanix is holding up, close to forging a new base. Learn more about your ad choices. Visit megaphone.fm/adchoices

After Thursday’s downside reversal, indexes have stayed within the highs and lows of that day. It sets up a nice lane for the markets but take note when it breaks from its lane. Take extra note of the stocks that do it first. Medpace crossed above Thursday’s high on Friday and followed up today. Apollo retraced a lot of ground on Friday and punctured above Thursday’s high today. Finally, ExxonMobil doesn’t even show anything happening on Thursday as it broke out of a cup base. Learn more about your ad choices. Visit megaphone.fm/adchoices

After Thursday’s downside reversal and weak recovery attempt on Friday, could a pullback or intermediate correction be in the cards? IBD’s Mike Webster walks through each day’s action and levels he’s watching. We revisit a precedent to see if the current index action is still tracking what unfolded in the market in 2003. Plus, we analyze some of this week’s notable stocks: Meta, Spotify, ServiceNow and Celsius. Learn more about your ad choices. Visit megaphone.fm/adchoices

A 1.2% intraday gain for the Nasdaq composite faded to a loss of more than 1% by the close. Oil settled at its highest level since late October, up 1.4% to $86.59 a barrel. Friday’s jobs report is expected to show nonfarm payrolls up 200,000 with the unemployment rate holding steady at 3.9%. Saia is testing its 10-week line; Celsius is close to a first test, while ServiceNow continues to build a base. Learn more about your ad choices. Visit megaphone.fm/adchoices

Advancing stocks outnumbered decliners on both exchanges by less than 2-to-1. The 10-year Treasury jumped above 4.40% after ADP reported stronger than expected job growth in March. But the 10-year yield backed off highs for the second straight session. Salesforce and XPO are trading near their 10-week moving averages, while Dexcom is in an alternate buy zone. Learn more about your ad choices. Visit megaphone.fm/adchoices

The 10-year Treasury yield added to Monday’s surge, hitting 2024 highs Tuesday. That pressured stocks once again, though the indexes came off morning lows. Meta Platforms, Uber Technologies and Eli Lilly are finding support around their 10-week lines. Learn more about your ad choices. Visit megaphone.fm/adchoices

The 10-year Treasury yield jumped 13 bps to around 4.33% after manufacturing data in the U.S. and China came in better than expected. The March jobs report also looms large on Friday. Casino operator Wynn Resorts, software firm Hubspot and First Watch Restaurant are all near buy points. Learn more about your ad choices. Visit megaphone.fm/adchoices

The 10-year Treasury yield ticked higher ahead of a key report on inflation Friday morning. The stock market will be closed Friday in observance of Good Friday, but the bond market will be open. Winners beat losers on the NYSE by about 2-to-1. The ratio was about 4-to-3 positive on the Nasdaq. Toast is setting up in a cup-with-handle base; M/I Homes gave an early buy signal; Martin Marietta is trading tightly near highs. Learn more about your ad choices. Visit megaphone.fm/adchoices

Profit-taking hit several top-rated growth stocks as the Russell 2000 small-cap index moved into position for another breakout try. The 10-year Treasury yield fell for the sixth time in seven trading sessions with the latest reading on inflation due Friday. Medpace and Nextracker are holding gains well after recent breakouts, while Dutch Bros is retesting a prior buy area. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes faded late, but near record highs. Donald Trump stock Trump Media skyrocketed out of a base in its post-SPAC merger debut, but came well off intraday highs. ServiceNow flirted with aggressive entries as several software names set up. Royal Caribbean is in a buy zone with Carnival earnings on deck Wednesday. Learn more about your ad choices. Visit megaphone.fm/adchoices

Even China news suggesting that Chinese chips would be favored over others wasn’t enough to shake this market. The major indexes continued to trade sideways but are making themselves comfortable above prior levels of resistance. It’s still worth sticking with A-list stocks and today we’ll take that literally with a look at Arm Holdings as it broke a recent downtrend on the China news. Also worth watching is Axon, formerly known as Taser, as it consolidates the gains from its last earnings move. Finally, it might be slow and boring but insurance companies like Allstate are filling the ranks of leadership and Allstate broke out of a short cup today. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes all hit record highs during the week, fueled by two familiar catalysts: A dovish Fed and AI optimism. Breadth was strong beyond tech with a number of stocks breaking out. Uber, Eli Lilly and CrowdStrike are setting up again in somewhat messy patterns. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Nasdaq composite rallied 1%, but early gains faded, hurt by a 4% drop for Apple. Small caps outperformed for the second straight session. Reddit had a strong debut after pricing at 34. Financial stocks also outperformed and several gave buy signals, including Ares Management. Duolingo limped past a 241.86 entry, while an early breakout faded for Neurocrine Biosciences. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Federal Reserve policy statement could’ve been hawkish in light of recent hot inflation data, but it wasn’t. The Fed envisions three rate cuts before the end of the year, in line with market expectations. CyberArk, Monday.com and JFrog continue to trade well with relative strength lines near new highs. Learn more about your ad choices. Visit megaphone.fm/adchoices

The market showed resilience, with Nvidia reversing higher. But the Fed rate-hike outlook looms large. Woodward and Arista Networks are setting up near flat-base buy points, with Arista paring solid intraday losses. Synopsys made a bullish move. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Nvidia GTC conference is in full swing but maybe it’s time to look outside of AI? The Nasdaq composite led the day but attention may also shift to March Madness brackets and a setup in DraftKings breaking a downtrend. A Fed meeting is coming this week which will put the focus on financials like Apollo Global Management with support at its 10-week line. Finally, if you need to get away from it all there is Royal Caribbean as a shallow cup base forms. Learn more about your ad choices. Visit megaphone.fm/adchoices

The key indexes continued to pause or pull back from recent highs, with the Nasdaq and Russell 200 testing the 21-day line. Sideways action could create new buying opportunities, but right now is fueling more fake outs, with ServiceNow and East West Bancorp down but not necessarily out. Arista Networks has a new flat base. The Fed meeting and two big AI meetings are on tap. Learn more about your ad choices. Visit megaphone.fm/adchoices

The 10-year Treasury yield spiked by 10 basis points to 4.29% after wholesale prices came in higher than expected. February retail sales were also soft as the Nasdaq and S&P 500 marked fresh distribution days. Alphabet moved above its 50-day line; Ares Management is forming a new base; Modine Manufacturing could have a bigger pullback in store after breaking an upper channel line. Learn more about your ad choices. Visit megaphone.fm/adchoices

Breadth was slightly negative on the Nasdaq and slightly positive on the NYSE. The 10-year Treasury yield rallied up to a key level near 4.19% ahead of Thursday’s PPI report. Microsoft is basing nicely above its 10-week line; Freeport-McMoRan soared with other copper stocks; Coupang is still in a buy zone. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes shrugged off a somewhat-hot CPI inflation report on Tuesday, as Nvidia led big-cap techs higher. One of those tech giants, ServiceNow, flashed a buy signal. So did Shockwave Medical, along with natural gas services firm Archrock. But overall market breadth was weak. Learn more about your ad choices. Visit megaphone.fm/adchoices

After Friday’s reversal you would expect more weakness but indexes didn’t give up a lot of extra ground. Arch Capital was one of the few breakouts for the day and it isn’t alone in its strength as other insurance stocks also saw gains. Meanwhile, On Holding is setting up with a cup with handle with a buy point at 35.58 and Neurocrine Biosciences is carving out a flat base with a 143.35 buy point. Learn more about your ad choices. Visit megaphone.fm/adchoices

An extremely extended Nvidia reversed lower Friday, taking down other the Nasdaq. Is this a blip or character change for the AI leader? Meanwhile, Square-parent Block and Brazilian brokerage XP flashed buy signals. Learn more about your ad choices. Visit megaphone.fm/adchoices

Winners beat losers on the S&P 500 by more than 2 to 1, but the ratio was less than 2 to 1 positive on the Nasdaq. All eyes will be on Friday’s employment report, which is expected to show February nonfarm payrolls up 190,000. Entegris topped a new buy point in heavy volume; sellers have been in On Holding ahead of next week’s earnings report; Cloudflare is pulling back in orderly fashion after surging on earnings. Learn more about your ad choices. Visit megaphone.fm/adchoices