Dow Jones futures, as well as S&P 500 futures and Nasdaq 100 futures, were higher late Monday after tech stocks sold off heavily. Bitcoin fell from all-time highs while Tesla stock went through a major level of support.
X.
On Monday, the tech-heavy Nasdaq composite sold 2.5%, its worst day since January 27. The S&P 500 was down 0.8%, while the Dow Jones Industrial Average was up 0.1%.
Under the Dow Jones leader, Apple ((AAPL) slipped 3% while Microsoft ((MSFT) fell by 2.7%. Apple stock continued to fall below its 10-week mark as Microsoft tests a recent buy point. Disney ((DIS) is back in the buy range after the strong profit on Monday.
Tesla ((TSLA) fell 8.55% on Monday, breaking the 50-day support level.
Late Monday Cadence Design Systems ((CDNS), Palo Alto Networks ((PANW) and ZoomInfo ((ZI) reported results.
Among the top stocks in or near buy zones are hot IPO stocks Shoals Technologies ((SHLS) tries to break out past a new buy point while Trade Desk ((TTD) continues to form a new basis.
Apple, Microsoft, Tesla and ZoomInfo are IBD leaderboard stocks. Shoals Technologies was IBD share of the day on Thursday. Trade Desk got introduced in this week Stocks near a buy zone Pillar.
Dow Jones Futures today
After the market closed on Monday, the Dow Jones futures and S&P 500 futures were each up 0.3%, while the Nasdaq 100 futures were up 0.55% from fair value. Remember you are acting Dow Jones Futures and elsewhere this does not necessarily mean that the next regular trade will actually be traded Stock market Session.
Among the exchange-traded funds is Innovator IBD 50 (FFTY) fell 2.9% on Monday. The Nasdaq 100 affiliated Invesco QQQ Trust ETF (QQQ) decreased by 2.6%. The SPDR S&P now has 500 ETF (SPY) lost 0.8%.
Overview of today’s US stock market |
||||
|---|---|---|---|---|
| index | symbol | price | Gain loss | % Change |
| Dow Jones | ((0DJIA) | 31523.40 | +29.08 | +0.09 |
| S&P 500 | ((0S & P5) | 3876.51 | -30.20 | -0.77 |
| Nasdaq | ((0NDQC ) | 13533.05 | -341.41 | -2.46 |
| Russell 2000 | ((IWM) | 223.73 | -1.46 | -0.65 |
| IBD 50 | ((FFTY) | 47.48 | -1.42 | -2.90 |
Last update: 4:28 PM ET 02/22/2021 |
||||
Stock market rally
Looking back on the current upward trend, November was an important month for the stock market. IBDs The big picture The new uptrend became apparent after the market’s bullish follow-through day on November 4th. Meanwhile, the Dow Jones Industrial Average, Nasdaq and S&P 500 retreated from record highs in mid-February.
The big picture from Monday warned: “Just four trading sessions ago, the market capitalization weighted Nasdaq hit new all-time highs, closing above 14,000 for the third year in a row. A fourth drop in the last five sessions has now shortened the index’s year to 5% advance.”
Focus on stocks that are showing strong relative strength during the current weakness. You could be among the market leaders if the indices can get back on track.
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Bitcoin price
Bitcoin was priced above $ 57,000 on Saturday and $ 58,000 on Sunday, before briefly dropping below $ 48,000 on Monday morning. Bitcoin rebounded, trading around $ 53,690 in evening trading according to the evening CoinDesk.
The Grayscale Bitcoin Trust (GBTC) The ETF fell over 4% on Monday, falling from record highs.
Dow Jones stocks: Disney
Dow Jones stock Disney is back in the buy range after 183.50 Buy point in one flat base, according to IBD MarketSmith Chart analysis. The purchase area of 5% increases to 192.68.
Disney shares rose 4.5% on Monday.
Stocks in or near buy zones: Shoals, Trade Desk
IBD share of the day on FridayShoals Technologies tries to break out after 41.86 Buy point in a tight IPO basis, according to IBD MarketSmith Chart analysis. The stocks briefly exceeded the buy point before falling more than 1%. The stock closed about 5% below entry.
Shoals is a IBD IPO Leader. The company offers a range of devices that are required for the operation of solar systems Shoals IPO filing. In addition, the components are provided that are required to transport electrical currents from solar modules to solar inverters and ultimately to the power grid.
Trade Desk is about 13% away from a 972.90 Buy point in one Cup bottom amid the more than 6% decline on Monday.
On Friday, shares rose nearly 7% after the company strong Q4 results. Earnings and sales increased by 149% and 48% respectively compared to the same period of the previous year.
According to IBD Stock Checkup, Trade desk warehouse shows a strong 98 from a perfect 99 IBD composite rating. With the IBD Composite Rating, investors can easily measure the quality of the fundamental and technical metrics of a stock.
Trade Desk ranks 10th in the IBD Big Cap 20.
Stock market results: Cadence, Palo Alto, ZoomInfo
Cadence Design Systems, Palo Alto Networks, and IBD ranking Share ZoomInfo reported gains after last Monday.
Cadence returned to its 50-day line on Monday on a 4.65% decline. After last Monday, Cadence reported strong Q4 results. The company made an adjusted 83 cents of sales of $ 760 million in the December quarter. Analysts had forecast a Cadence profit of 74 cents per share of sales of 732 million US dollars.
In day-to-day business, the shares gained 5%.
Cyber security leader Palo Alto Networks reported better-than-expected results in the second quarter, but the company’s earnings outlook fell short of consensus. Palo Alto stock reduced its overnight trading losses to about 2%.
The stock closed in the buy range on Monday after a buy point of 375.10 on a flat basis.
ZoomInfo was down 6.25% on Monday, closing below an entry of 53.18 on a cup base. After last Monday, ZoomInfo rose 10% on strong Q4 results and better-than-expected Q1 sales forecasts.
According to the Leaderboard comment, “ZoomInfo broke out for a brief period on February 1st. However, it topped an alternative entry where stocks remain in the buy range. The stock is becoming more volatile, a risk.”
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Tesla Stock Breaks Support
IBD ranking Tesla shares fell 8.55% on Monday, breaking its important 50-day moving average. For the first time since a breakout on Nov. 18, stocks are above a buy point of 466 below critical support levels.
On Sunday Tesla has stopped taking orders for the cheapest version of the Model Y Standard Range Sport Utility Vehicle, just over a month after its launch and barely a week after a price cut, according to its website.
The IBD inventory for the day of January 8th The column signaled that Tesla has shown several signs of a climax in a strongly vertical run over the past few months.
On January 25, Tesla shares hit a record high of 900.40. Shares are roughly 84% above a buy point of 466 in a handle-mounted mug amid Monday’s action.
Dow Jones Leaders: Apple, Microsoft
Under the tips Dow Jones stocksApple fell 3% on Monday as it continued to fall below its 10-week line.
On Thursday, the stock triggered the 7% to 8% loss-reducing sell rule as it fell more than 7% below its buy point of 138.89 in a mug with a handle.
Microsoft fell 2.7% on Monday. The shares of the software giant are in the 5% buy zone from a buy point of 232.96 to 244.61
Follow Scott Lehtonen on Twitter at @IBD_SLehtonen More information on growth stocks and the Dow Jones futures.
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