Stock Market Today With IBD

Fed Chairman Jerome was on Capitol Hill Wednesday, giving his Semiannual Monetary Report to Congress in front of a House committee. He’ll be in front of the Senate tomorrow ahead of Friday’s jobs report. The Nasdaq composite rebounded after some selling Tuesday, but early gains faded after sellers came into the market just after 1:30 p.m. ET. Dexcom broke out in heavy volume; CyberArK is consolidating above its 10-week line, while Block is setting up in a cup-with-handle base after a bullish earnings report. Learn more about your ad choices. Visit megaphone.fm/adchoices

The stock market retreated Tuesday, with the Nasdaq giving up its Thursday-Friday gains to record highs. Software stocks were big losers Tuesday, including Duolingo. Bank stocks such as PNC Financial continue to do well, while homebuilders like Lennar are holding up well. Learn more about your ad choices. Visit megaphone.fm/adchoices

While the Nasdaq composite and S&P 500 took a little pause there were still some big movers under the surface. With Super Micro joining the S&P 500 it got a 25% boost but is wildly extended. BlackRock broke out of a tight flat base as some banks rallied and bitcoin hit highs. Rollins broke out of a cup-with-handle with a group that has seen recent movement to the forefront. Finally, Samsara is setting up in a base of its own but has more volatility and earnings coming on March 7. Learn more about your ad choices. Visit megaphone.fm/adchoices

The stock market rally had a strong week, with the Nasdaq hitting a record high and small caps moving back above recent highs. That offered buying opportunities for leaders such as Taiwan Semi, but the Nasdaq is already extended again. Tidewater raced higher on earnings and oil prices, while Confluent is setting up. Investors need to be patient and nimble. Learn more about your ad choices. Visit megaphone.fm/adchoices

With PCE data coming in as expected, indexes got a strong start. After some slow action midday they really ramped up into the close. AMD got a nice boost breaking out of tight area, Celsius rocked its earnings and put the squeeze on short sellers. Meanwhile, Duolingo got back above its 50-day line on a big earnings move. Learn more about your ad choices. Visit megaphone.fm/adchoices

The 10-year Treasury yield dipped 4 basis points to around 4.27% as the bond market ponders a “higher for longer” interest-rate scenario for the Fed. Amid some selling in the online travel group, India-based MakeMyTrip is showing strength and support; restaurant stock Cava is back near an all-time high after reporting earnings; On Holding is showing relative strength ahead of its March 12 earnings report. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes are pausing at record highs while small caps are running back to two-year best, just what the market rally needs. There aren’t many stocks to buy, though Brazil’s Embraer flashed an early entry. AMD and Shift4 Payments showed positive action. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Personal Consumption Expenditures report is due out on Thursday and earnings are winding down. Is this the time for the market to pause? Bitcoin play Coinbase doesn’t seem to be ready for a pause as it retook a buy point from a week ago. And homebuilder Dream Finders Homes also had a powerful breakout today. But when you look at Alphabet and Apple, these Magnificent 7 members aren’t looking nearly as magnificent. Learn more about your ad choices. Visit megaphone.fm/adchoices

The S&P 500 hit record highs thanks to Nvidia earnings with the Nasdaq almost there. The market rally is already looking stretched again. Breadth has been so-so, though leadership remains robust. Lennar is flirting with a breakout while Manhattan Associates around potential entries. AMD stock had a wild week but yet another tight weekly close as it works on a base. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Nasdaq composite closed less than 200 points from its all-time high of 16,212 set in November 2021. But market breadth was suspect again, with advancers beating decliners on both exchanges by a small margin. ServiceNow is making a solid second test of its 10-week line; Kinsale is holding gains after an earnings surge, while oilfield services firm TechnipFMC is forming the right side of a base. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Nasdaq composite and Russell 2000 lagged but rallied off lows during the 30 minutes of trading. Earnings and weak guidance from Palo Alto Networks weighed on sentiment, but homebuilder Toll Bros. rallied sharply after earnings. Palantir is testing a prior buy area. Learn more about your ad choices. Visit megaphone.fm/adchoices

Techs led Tuesday’s market retreat, especially AI names ahead of Nvidia earnings. The Nasdaq undercut its 21-day moving average. Manhattan Associates and ServiceNow are pulling back to key levels. GigaCloud suffered a big sell-off after a massive run. Learn more about your ad choices. Visit megaphone.fm/adchoices

Stocks had a mixed week, but held up near highs despite hot inflation. Nvidia earnings loom as a huge test for the AI-led rally. Super Micro suffered a bearish sell-off after a climax-like run. Meanwhile, outside of tech, homebuilder Lennar and oil machinery play Weatherford are near buy points. Learn more about your ad choices. Visit megaphone.fm/adchoices

The bull run continued Wednesday, helped by another round of strong earnings reports, even as January retail sales came in much worse than expected. The 10-year Treasury yield fell for a second day after soaring Tuesday. Real estate firm Jones Lasalle gapped up powerfully; Airbnb shot higher after an earnings sell-off; Commvault Systems is holding gains bullishly. Learn more about your ad choices. Visit megaphone.fm/adchoices

The stock market rebounded Wednesday after Tuesday’s sell-off. The indexes bounced from or near key levels. But it wouldn’t take much for the Nasdaq to be extended again, while bullish sentiment is near extreme levels. Netflix offered a buying opportunity for nimble traders, while Celsius cleared some key levels. Birkenstock is setting up. Learn more about your ad choices. Visit megaphone.fm/adchoices

The stock market suffered significant losses Tuesday following hot CPI inflation and negative reactions to key earnings reports. Many leading stocks rebounded from key levels, but market breadth was very weak. Shopify sold off on earnings while Copart and MercadoLibre held up reasonably well. Learn more about your ad choices. Visit megaphone.fm/adchoices

A rally by small and midcap names made up for a small retreat by the Nasdaq composite, but only after the Nasdaq made further ground past 16,000. It is less than a 1% rise away from eclipsing its November 2021 all-time peak. The Russell 2000’s solid gain helped affirm good numbers in terms of market breadth. AI-themed companies continue to attract attention and investor dollars, for good reason. But techs are not the only game in town lately for investors searching for stocks with breakout potential. Today we’ll highlight new buy points emerging in PulteGroup and Diamondback Energy as well as note a profit-taking sell rule in Monday.com ahead of its quarterly results early on Monday. Learn more about your ad choices. Visit megaphone.fm/adchoices

Breadth continued to improve as indexes started bursting through important levels. The S&P 500 made it above 5,000 while the Nasdaq composite hopped above 16,000 for a moment. Meanwhile, the small-cap Russell 2000 finally got itself back above 2,000. was positive on both exchanges by less than 2-to-1 as the S&P 500 made another effort to move through the 5,000 level. While most stocks are extended, a new crop has recently been setting up. Sprout Social broke a downtrend in a cup-with-handle today while over in insurance, Kinsale Capital finished above a cup-with-handle buy point. Meanwhile, a big earnings gap in Manhattan Associates has tightened up and is worth watching for another potential move. Learn more about your ad choices. Visit megaphone.fm/adchoices

Breadth was positive on both exchanges by less than 2-to-1 as the S&P 500 made another effort to move through the 5,000 level. Arm Holdings soared on earnings, Marvell Technology Group is approaching an alternate entry, while UiPath backed off highs after giving an early buy signal. Learn more about your ad choices. Visit megaphone.fm/adchoices

The stock market rally continued as Wall Street weighed another round of strong earnings reports. Netflix is holding gains well after gapping up on earnings last month; sellers hit ELF Beauty despite another strong earnings report while Intra-Cellular Therapies is forming a base as it holds support at the 10-week line. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes continue to hold near highs, while small caps rose modestly. Buying opportunities are relatively scarce, and often from earnings. Palantir, BellRing Brands and Varonis flashed different buy signals following earnings. Learn more about your ad choices. Visit megaphone.fm/adchoices

Fed Chair Powell gave a rare interview on “60 Minutes” reiterating a slow move towards rate cuts. While the market slumped early, it just refuses to stay down. Many of the leaders are extended but there are still a few that are actionable. Advanced Micro Devices formed a recent three-weeks-tight pattern that’s worth watching. JFrog broke out of a flat base today. Expedia is forming a very shallow flat base ahead of its earnings report on Thursday. Learn more about your ad choices. Visit megaphone.fm/adchoices

Losers trounced winners Friday, but the Dow Jones and S&P 500 hit record highs while the Nasdaq roared to a two-year best thanks to Meta Platforms and Amazon. MongoDB also was a beneficiary, clearing a handle buy point, while Axon Enterprise and Synopsys flashed early entries. Learn more about your ad choices. Visit megaphone.fm/adchoices

Advancers beat declines on the Nasdaq by nearly 2-to-1. The ratio was more than 3-to-1 positive on the NYSE. The Russell 2000 small-cap index outperformed and found support at its 50-day line again. Solar stock Nextracker and Ferrari gapped up on earnings, while real estate software firm Appfolio is showing strength and support after its earnings gap. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Nasdaq composite suffered a rare distribution day, falling 2% in higher volume. Breadth was more than 2-to-1 negative on both exchanges. Royal Caribbean Cruises is showing uncanny strength ahead of earnings; Trex is forming a flat base while holding above its 10-week line, while Moody’s is trying to clear a flat base. Learn more about your ad choices. Visit megaphone.fm/adchoices

Tech stocks fell Tuesday on Apple and possible profit-taking ahead of huge earnings reports starting Tuesday night. Lululemon Athletica and Toll Brothers flirted with buying opportunities before backing off. Weatherford plunged along with many oil machinery, services and drilling plays as Saudi Arabia halted production capacity projects. Learn more about your ad choices. Visit megaphone.fm/adchoices

Advancing stocks beat decliners by more than 2-to-1 on both exchanges. The 10-year Treasury yield fell 9 basis points to 4.07% after the Treasury Department cut its borrowing plans in Q1. UiPath has started work on the right side of a cup base. Chipotle Mexican Grill cleared a flat base, while Azek gave an early buy signal as it forms a flat base. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes rose solidly again for the week, with the S&P 500 and Dow Jones hitting fresh all-time highs Friday before reversing. The Nasdaq struggled to advance after mid-week, but that’s not all bad given the massive earnings wave ahead. Expedia is flashing an early entry as travel stocks step up. Novo Nordisk is in a buy zone with earnings due. Elastic is trying to reclaim a buy point. Learn more about your ad choices. Visit megaphone.fm/adchoices

The first estimate to Q4 GDP came in much stronger than expected, fueling early positive sentiment. Winners beat losers on the Nasdaq by about 3 to 2, but the ratio was nearly 3 to 1 positive on the NYSE. Caterpillar topped a new buy point; Adobe is near highs as it builds a new base; Pinterest is holding support at its 10-week line. Learn more about your ad choices. Visit megaphone.fm/adchoices

Declining stocks had a slight edge over advancers on both exchanges. The 10-year Treasury yield reversed higher and closed above its 50-day line. Brazilian fintech XP gave back early gains after clearing a trendline; Expedia is holding support at its 10-week line; East West Bancorp reversed higher and is still in buy range after topping a 74.61 entry. Learn more about your ad choices. Visit megaphone.fm/adchoices

The stock market rally paused with the major indexes mixed, holding at 52-week or all-time highs. Snowflake broke out. CSX has traded tightly in a buy zone with earnings on tap. D.R. Horton plunged on earnings. Learn more about your ad choices. Visit megaphone.fm/adchoices

A gap up at the open for the major indexes gave up a lot of ground but still finished positive. But it was the small-caps that really led the way as yields came down. Real estate was on the rise and Digital Realty broke out of from a flat base. MongoDB broke above a downtrend and cleared an important 400 level again. Finally, semiconductor equipment maker ASML Holdings broke out from a cup with handle but it has earnings around the corner. Learn more about your ad choices. Visit megaphone.fm/adchoices

The S&P 500 hit a record high, as big techs led the way. Small caps fell for the week despite Friday’s bounce. However, market leadership remains robust. Super Micro skyrocketed out of a base on blowout preliminary results. Cloudflare and DraftKings are near early entries. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Nasdaq outperformed even as bond yields and the U.S. dollar rose again. But breadth was suspect again, with advancers only having a slight edge over decliners on both exchanges. TSMC gapped out of a cup with handle base; ARM is holding support at its 10-week line, while URI is pulling back in orderly fashion. Learn more about your ad choices. Visit megaphone.fm/adchoices

Decliners topped advancers on the NYSE by about 3.5-to-1. The ratio was around 2.5-to-1 negative on the Nasdaq. Retailer Burlington Stores has been stubborn about giving back recent gains, while Axon and Qualys have pulled back in orderly fashion. Learn more about your ad choices. Visit megaphone.fm/adchoices

The stock market rally pulled back Tuesday, with industrials, financials and homebuilders leading a broad retreat. Tech stocks held up relatively well, with some flashing buy signals, such as Elastic, Cadence Design and Rambus. Learn more about your ad choices. Visit megaphone.fm/adchoices

The stock market rally had a strong week, with the major indexes finishing near 52-week or all-time highs and many leading stocks flashing buy signals. Market breadth has been lackluster in the new year, but plenty of leading stocks have flashed buying opportunities, including Microsoft, MercadoLibre and Novo Nordisk. Learn more about your ad choices. Visit megaphone.fm/adchoices

The stock market rally retreated from highs, but erased solid losses by the close, helped by Treasury yields reversing lower. Netflix moved back into a buy zone. Shift4 Payments and Samsara flashed buy signals, rebounding from key support levels like many leading stocks. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes gradually picked up steam in Wednesday’s trading, nearing 52-week or all-time highs. Tech giants led the way, including Microsoft and ServiceNow, which both flashed buy signals. GigaCloud Technology, which has been on a monster run, reversed sharply lower. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes largely held Monday’s big rebound, with the Nasdaq finding support at the 21-day line. More leaders flashed buy signals, including Palo Alto Networks and Cameco. Howmet Aerospace is maintaining altitude within a buy zone, close to new entries as well. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes got a strong start for the week as they built on gains throughout the day. The 10-year treasury yield may have trouble holding above 4% on the near term. In addition to tech, consumer stocks were alive and well with Lululemon Athletica turning a loss into a gain with support at its 21-day line. Home builders were strong as Toll Brothers popped back above 100. But it wasn’t all rosy. Boeing dropped on news which brings up loss-cutting strategies when stocks don’t work out. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes tried to bounce Friday, but closed near weekly lows, snapping a nine-week win streak. The S&P 500 is trying to hold its 21-day line. Nvidia and Spotify showed bullish action, while PulteGroup was resilient despite rebounding Treasury yields. Learn more about your ad choices. Visit megaphone.fm/adchoices

Interest rates rose as weekly jobless claims fell more than expected, while private employers added 164,000 jobs, much more than expected. Merck and Amgen outperformed in the Dow Jones. Financial stocks also did well. Apollo Management and Novo Nordisk gave buy signals, while Fifth Third Bancorp continues to show strength and support ahead of a busy week of earnings reports in the financial sector. Learn more about your ad choices. Visit megaphone.fm/adchoices

Declining stocks beat advancers on the Nasdaq by about 3 to 1. The Nasdaq made a stand at its 21-day line Tuesday but closed below the support level. The 10-year Treasury yield reversed lower after hitting 4%. Blackstone is close to retesting a prior entry, while Shopify and Ryanair are near first tests of their 10-week lines. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes started the year with losses, especially the Nasdaq, as chips, software and tech megacaps retreated. But market breadth wasn’t too bad. Celsius and Eli Lilly flashed early buy signals as they cleared trendlines. Microsoft is testing key support. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes closed out the year with their ninth straight weekly gains, capping the Nasdaq’s best year since 2003. Some more buying opportunities are developing, with Nvidia near a traditional buy point, MercadoLibre consolidating after a recent run and Celsius flirting with an aggressive entry. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Russell 2000 halted a four-session win streak, but the small-cap index is still on pace for its 7th straight weekly gain. The Nasdaq and S&P 500 are working on nine straight up weeks, resulting in a frothy market. Two enterprise software stocks – Freshworks and UiPath – have the potential to be leaders in 2024, while China-based PDD is still showing strength after gapping up on earnings in late November. Learn more about your ad choices. Visit megaphone.fm/adchoices

Stocks traded near the flatline for most of Wednesday’s session, with advancers having a slight edge over decliners on both exchanges. With only two trading days left in 2023, the S&P 500 is closing in on an all-time high. Tesla gave an early buy signal ahead of Q4 delivery data; Vertex is holding gains well, and recent IPO Birkenstock isn’t far from an all-time high after an inauspicious debut in October. Learn more about your ad choices. Visit megaphone.fm/adchoices

Stocks continued to advance following the Christmas holiday weekend. The S&P 500 is near all-time highs, but there are reasons to be cautious about new buys before the new year. AppLovin and CBOE are consolidating, while Netflix is holding in a buy zone. Learn more about your ad choices. Visit megaphone.fm/adchoices

After Wednesday’s sell-off turned out to be a jump scare vs. a horror show, the major indexes rebounded for their eighth straight weekly gains. The Nasdaq is looking extended, along with many leaders. Nvidia has a new flat base, while Samsara is trading tightly and steel pipe play Tenaris flirts with buy signals. Learn more about your ad choices. Visit megaphone.fm/adchoices