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Investor's Business Daily
A roundup of the most compelling market action each trading day at the closing bell from Investor's Business Daily.
Indexes Up But Does Anything Change? Church & Dwight, Alphabet, Heico In Focus
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.
19:0722/04/2024
Bull Market Precedent Breaks Wide Open; Nvidia, SMCI Plunge
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.
55:0119/04/2024
Stocks Fade Early Gains; Embraer, Quanta Services, TXRH In Focus
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.
11:2918/04/2024
Stocks Fall But S&P 500 Holds Key Level; Eli Lilly, Itron, GOOGL In Focus
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.
13:5917/04/2024
Indexes Hold Below Key Levels; Sea Limited, DraftKings, Datadog Act Well
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.
16:1416/04/2024
Morning Gap Up Doesn’t Last; Atkore, Casey’s, HealthEquity In Focus
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.
18:4615/04/2024
Market Breaks Expectations; Coupang, Nvidia, Arista Provide Lessons
Thursday looked promising, but now we need to readjust our expectations.
36:5212/04/2024
Tech Stocks Jump On Tame PPI Data; AVGO, ASML, ABNB In Focus
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.
13:0311/04/2024
Stocks Head Lower After CPI Report; Axon, ARES, CAVA In Focus
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.
13:2710/04/2024
Stocks Await CPI Inflation Report; Nvidia, Royal Caribbean, Nutanix In Focus
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.
16:4409/04/2024
Indexes Stay In Their Lane While Medpace, Apollo, Exxon Mobil Outperform
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.
17:2008/04/2024
Stocks Attempt Recovery, But Is A Pullback Coming? Meta, ServiceNow, Celsius In Focus
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.
54:4405/04/2024
Stocks Reverse Lower Ahead Of Jobs Report; Saia, CELH, NOW In Focus
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.
11:1404/04/2024
Stocks Rally After Sell-Off; Salesforce, XPO, Dexcom In Focus
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.
13:3603/04/2024
Stocks Bend As Yields Rise; Meta Platforms, Uber, Eli Lilly In Focus
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.
11:0802/04/2024
Small Caps Hit As Rates Rise; Wynn Resorts, Hubspot, FWRG In Focus
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.
11:1201/04/2024
Russell 2000 Hits New High In Quiet Session; TOST, MHO, MLM In Focus
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.
11:2028/03/2024
Small Caps Jump, Breadth Improves; Medpace, Nextracker, BROS In Focus
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.
10:4427/03/2024
Indexes Fade Late; Trump Media, ServiceNow, Royal Caribbean In Focus
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.
12:2426/03/2024
Indexes Mark Time But Refuse To Give Up Ground; Arm, Axon And Allstate In Focus
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.
21:4725/03/2024
Two Familiar Catalysts Fuel Strong Market Week; Uber, Eli Lilly, CrowdStrike In Focus
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.
15:1922/03/2024
Stocks Fade After Strong Start; ARES, DUOL, NBIX In Focus
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.
10:3121/03/2024
Stocks Soar After Fed Statement; CyberArk, Monday.com, JFrog In Focus
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.
13:4920/03/2024
Market Resilient With Fed On Tap; Woodward, Arista Networks, Synopsys In Focus | Stock Market Today
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.
11:4119/03/2024
Time To Look For Setups In Other Areas? DraftKings, Apollo, Royal Caribbean In Focus
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.
15:2018/03/2024
Stocks Pause Ahead Of Big News; ServiceNow, Arista, East West Bancorp In Focus
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.
15:5015/03/2024
Small Caps Hit Hard On Economic Jitters; Alphabet, ARES, MOD In Focus
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.
11:3214/03/2024
Nasdaq Holds Firm Despite Chip Selling; Microsoft, FCX, Coupang In Focus
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.
12:4813/03/2024
Big Techs Lead Major Indexes Higher; ServiceNow, Shockwave, Archrock In Focus
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.
12:3012/03/2024
Indexes Hold Firm Ahead Of CPI Report; Arch Capital, On, Neurocrine In Focus
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.
18:3811/03/2024
Nvidia Leads Tech Reversal; Square-Parent Block, XP Flash Buy Signals
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.
22:3608/03/2024
Stocks Strengthen Ahead Of Jobs Report; Entegris, On Holding, Cloudflare In Focus
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.
14:0307/03/2024
Stocks Rebound After Sell-Off; Dexcom, CyberArk, Block In Focus
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.
12:0206/03/2024
Software Leads Market Slide; Duolingo, PNC Financial, Lennar In Focus
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.
16:5205/03/2024
Indexes Pause As Defensive Sectors Lead; BlackRock, Rollins, Samsara In Focus
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.
21:0304/03/2024
Nasdaq Hits Record High; Taiwan Semiconductor, Tidewater, Confluent In Focus
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.
14:1701/03/2024
Indexes Do Victory Lap Into Close; AMD, Celsius, Duolingo In Focus
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.
21:0629/02/2024
Stocks Dip Ahead Of Inflation Data; MakeMyTrip, Cava, ONON In Focus
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.
12:5028/02/2024
Market Rally Showing Constructive Action; Embraer, AMD, Shift4 In Focus
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.
20:0527/02/2024
Is It Time For A Market Pause? Coinbase, DFH, Google In Focus
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.
15:1026/02/2024
Market Rally At Record Highs; Lennar, Manhattan Associates, AMD In Focus
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.
14:2223/02/2024
Stocks Surge After Nvidia Earnings; ServiceNow, Kinsale, FTI In Focus
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.
10:1322/02/2024
Techs, Small Caps Extend Losses; PANW, TOL PLTR In Focus
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.
11:1121/02/2024
Techs Retreat Ahead Of Nvidia; Manhattan Associates, ServiceNow, GigaCloud In Focus
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.
12:5820/02/2024
Market Rally Faces Nvidia Test; Super Micro, Lennar, Weatherford In Focus
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.
20:4616/02/2024
Stocks Rally, S&P 500 Reclaims 5,000; JLL, Airbnb, CVLT In Focus
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.
12:0715/02/2024
Stocks Bounce After Sell-Off; Netflix, Birkenstock, Celsius In Focus
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.
15:2614/02/2024
Stocks Skid On Inflation Data, Earnings; Shopify, Copart, Mercadolibre In Focus
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.
11:5813/02/2024
Nasdaq Cools Off After A New High; Monday.com, PulteGroup, Diamondback Energy In Focus
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.
23:1812/02/2024
S&P 500 breaks 5000; Sprout Social, Kinsale, Manhattan Associates In Focus
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.
21:5909/02/2024