The Nasdaq and S&P 500 hit fresh all-time highs as a weak ISM services reading hit Treasury yields and raised Fed rate cut hopes. The jobs report looms Friday though. Chips and other techs were strong, with ASML back in a buy zone. But plenty of stocks from other sectors flashed buy signals, including Tencent Music and Angico-Eagle Mines.

The Nasdaq, buoyed by Tesla and most megacaps, moved toward record highs, slightly extended from the 50-day line, even as small caps remain below that key level. Weatherford is among energy plays making bullish moves, while Goldman Sachs and other bank giant are around buy points.  Novo Nordisk fell at the open on news, but bounced back quickly.

With the downside reversal on Friday, you would expect weakness to follow. But the market indexes are still showing resilience and refuse to go down. You can credit the megacaps again. Take Meta which showed signs of support around 500. But there are also a few others setting up. Retailer Ollie’s Bargain Outlet is holding tight just under 100 after a nice quick pop following earnings and IBD Long-term Leader Synopsys found support at its 21-day line.

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.

Winners had a slight edge over losers on both exchanges. Investors bought bonds, sending the 10-year yield lower by 3 basis points to 4.28% ahead of key inflation data point Friday. Meta Platforms cleared a 514.01 entry in light volume, while Monday.com and ServiceNow cleared trendlines.

Declining stocks had a slight edge over advancers on both exchanges. The Nasdaq’s advance/decline line has been on a downtrend for more than a month.

After a few days with the Dow and non-tech sectors leading while AI plays tumbled, the market shifted back to Nvidia and the Nasdaq. A one-day blip or a reversion to the old AI trend? Meta Platforms, Novo Nordisk and MercadoLibre flashed buy signals.

Even though some of the star players are coming down, there seem to be some understudies waiting in the wings. Sprouts Farmers Market got our “ants” signal but tightened up afterward. Now, it’s found support at its 10-week line. Insurance companies continue to show relative strength as Hartford Financial staged a breakout today. Healthcare stocks are right there too with Merck coming up to prior resistance and setup to breakthrough.

Is the party over or just moving locations? The downside reversal on Thursday is certainly affecting Nvidia as it continued to weaken, but other megacaps are picking up the slack. Alphabet is looking at a closing high after moving above a three-weeks-tight area and Spotify found support at its 21-day moving average line.

Losers had a slight edge over winners on both exchanges. The S&P 500 turned lower after poking above the 5,500 level, while blue chips finally enjoyed a day of outperformance. China-based Kanzhun and Chubb are close to breaking out of downtrends, while Palantir might be adding a handle to its current pattern.

The stock market had a relatively quiet pre-holiday session, with the S&P 500 and Nasdaq holding around record highs. The latter is somewhat extended, something to consider when analyzing possible buys and sells. ELF Beauty broke out, while Goldman Sachs and Granite Construction are right on the cusp of early entries.

The Nasdaq led a solid advance on Monday, with the 18,000 level looking like a magnet to the upside. But the faster the market rises, the harder it may pull back. The tech-heavy index is now nearly 9% above its 50-day moving average and well above its 21-day line. Today’s sharp move could mean the risk of a steeper pullback is now elevated. Among individual stocks, On Holding (ONON) reversed higher after testing a critical support area. GE Aerospace (GE) cleared a trendline entry and Carvana (CVNA) bounced off a key psychological 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.

The Nasdaq hit another all-time best thanks to a few big caps, and is starting to look extended. The S&P 500 set a closing high. But the Dow and Russell 2000 fell, struggling around the 50-day line, though they came off early afternoon lows. Chipotle cleared a short consolidation while Universal Health held a buy zone. GE Aerospace fell through its 50-day.

The S&P 500 and Nasdaq hit fresh record highs while small caps jumped, fueled by a tame CPI report before the open. Stocks largely held their gains despite a somewhat-hawkish Fed rate outlook, but then faded late in the session. Booking Holding broke out while Fair Isaac made a bullish move. KB Home soared initially, but slashed gains as Treasury yields pared losses.

Stocks closed mixed but near session highs. Apple surged out of a base, driving the Nasdaq to a record high. Arista Networks flashed a buy signal while Lam Research is trading around buy points. The CPI inflation report is due early Wednesday with the Fed’s “dot-plot” rate outlook on tap in the afternoon.

Winners were evenly split with losers on both exchanges as the Nasdaq composite and S&P 500 trade tightly near highs. The 10-year Treasury yield rallied again after surging 15 basis points Friday. General Motors broke out powerfully from a flat base.

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.

Decliners beat advancers by less than 2-to-1 on both exchanges as gold stocks outperformed. Data center stocks like Vertiv and Modine Manufacturing fell hard again, but the session served up several strong gainers. Pinterest cleared a trendline after a low-volume pullback; Wheaton Precious Metals bounced nicely off its 50-day moving average; Coinbase is forming the right side of a base.

The ADP employment came in weaker than expected, raising expectations that the first Federal Reserve rate cut will come at the September meeting. Friday’s employment report still looms large. CrowdStrike soared after reporting earnings, but there’s a caveat; ASML gapped up to the top of a 13-week consolidation; Oscar Health is firming up after a pullback.

The major indexes were firm Tuesday, with the Nasdaq and S&P 500 near record highs. But market breadth was weak, with small caps falling back below the 50-day line. Spotify and Novo Nordisk cleared buy points while GE Aerospace is finding key support, working on a new base.

There was a lot to talk about in the market after Friday’s reversal. The NYSE had some glitches that led to some wrong prices in Warren Buffet’s Berkshire Hathaway (BRKA) and others. Elections in Mexico and India had very different effects on those stocks and the CEO of Lattice Semiconductor (LSCC) found greener pastures at Coherent (COHR). On top of that you also had some good looking charts in the Domino’s (DPZ) as restaurant stocks continue to set up. Medical is also coming on strong with Regeneron (REGN) following up on its reversal last week.

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. 

The 10-year Treasury yield took a breather after two days of sharp gains. Despite losses for the major stock indexes, breadth was slightly positive on the Nasdaq and about 3-to-1 positive on the NYSE. Chubb is back in a buy zone after a low-volume pullback. ISRG tried to clear a flat base again to no avail while UHS cleared a cup-with-handle base.

The Nasdaq pared losses while the S&P 500 traded in a tight range and closed comfortably above its 21-day line. Losers beat winners on the NYSE by more than 5-to-1; the ratio was nearly 3-to-1 negative on the Nasdaq. Cava reversed higher after falling nearly 10% intraday; Dutch Bros is back in rally mode after some post-earnings softness; Robinhood is back in a buy zone after the company announced a big share buyback.

The Nasdaq briefly topped 17,000 as Nvidia continues to run higher, but market breadth was weak, with the Dow Jones undercutting its 50-day line. Arm Holdings and Wingstop flashed buy signals, while Celsius plunged below a key level.

After a bearish reversal in Thursday’s session, the stock market bucked the weakness and delivered a positive expectation breaker. How bullish should you be now? 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.

The 10-year Treasury rose above some key levels after the flash Composite Purchasing Manager’s Index (PMI) came in stronger than expected. Nvidia faded off highs after the Nasdaq composite pared an intraday gain of nearly 1.2% to a loss of 0.4% by the close. Novo Nordisk, Crocs and Ryan Specialty are still holding near highs.

The 10-year Treasury yield rallied a bit after the minutes from the May 1 Fed meeting were released. Just after the close, the yield was trading around 4.43%, up 2 basis points. Oil and gas stocks lagged badly, along with metals and mining stocks. Loar Holdings followed through after clearing an IPO base Tuesday; Monday.com is holding gains well after gapping up on earnings; Vertex Pharmaceuticals is near the top of a shallow cup base.

The major indexes had another quiet session, as investors await Nvidia earnings. But leading stocks continue to fare well. Eli Lilly broke out while Microsoft flashed a buy signal. Ares Management tumbled Tuesday on investor day, but pared losses to hold the buy zone.

As a power trend starts, many stocks are giving second chances at buy areas. AppLovin held tight after earnings and has a look that can be found among many stocks today. Monolithic Power reaffirmed its breakout from last week after holding tight for a couple of days. Of course, Nvidia earnings are due after the close on Wednesday which puts a spotlight on chips. Finally, Booking.com is a little slower but shows strength outside of tech.

As Nvidia earnings loom large next week, the stock market is on the verge of delivering a powerful signal. 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.

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.

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.

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.

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.

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. 

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.

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. 

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.

 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.

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.

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.

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.

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.

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.

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.

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.