The Dow Jones Futures will open on Sunday evening, with the S&P 500 futures and Nasdaq futures. For the first time in Bitcoin, 000 rose above 60,000.
The stock market is divided, but the rally is expanding significantly, with more and more stocks breaking down from various sectors. A notable exception was Nasdaq and growth stocks, but they also had a totally positive week.
Delta Airlines (From), Las Vegas Sands (LVS) And Marriott International (M.A.R.) Is one of the many travel stocks that set positively in similar formats United Airlines (UAL) Already deletes the new one Buy point.
Volkswagen (VWAGY) Will host a Battery-centric Power Day event before the US markets open on a Monday similar to last year’s Tesla Battery Day. VW Revenue is due out on Tuesday, while the ID4 crossover is set to launch later this month in China and the US. VW leads traditional vehicle manufacturers to rush into electric vehicles. All of this could put pressure on Tesla sales and prices and on Tesla stock. VW stock has been rising in recent months, rising rapidly General Motors (G.M.) And Ford Motor (F).
Bitcoin price top $ 60,000
The price of Bitcoin continues to run, reaching 60,415.34 000 on Saturday morning. On February 21, the previous high of Bitcoin was over $ 58,000. Many financial institutions have Bitcoin as their minimum digital asset, while Tesla’s $ 1.5 billion purchase of Bitcoin is one of several companies investing in cryptocurrency. 9 1.9 trillion biden stimulus will generally flood more money in bitcoin and financial markets.
Adding S&P 500
Finally, NXP semiconductors (NXPI), Ben National Gaming (Ben), Generake Holdings (GNRC) And Caesars entertainment (CZR) Is set to join the S&P 500 index before opening on March 22nd. Shares in S&P 500 news rose 3% -7% late Friday. The NXP stock may offer a buy opportunity when it jumps from its 10-week line, while Ben National, Genere and Caesar are unlikely to act.
The future of Dow Jones today
The Dow Jones Future will open at 6pm ET with the S&P 500 futures and the Nasdaq 100 futures.
Corona Virus News
Worldwide, the number of corona virus cases has reached 119.72 million. Covit-19 deaths are 2.65 million.
Corona virus cases in the United States have reached 29.99 million, with more than 545,000 deaths.
Stock market rally
The stock market rally has continued to strengthen and expand over the past several days, with the Dow Jones, S&P 500 and Russell 2000 all-time highs.
The Dow Jones Industrial Average rose 4.1% last week Stock market trading, Set a record in the last four sessions. The S&P 500 index was up 2.6%, while the Russell 2000 was up 7.35%. The Nasdaq composite rose 3.1%.
The 10-year Treasury yield rose 13 months to 10 points, up 1.63% on Friday.
In the middle Best ETFs, Inventor IPD 50 ETF (FFTY) 8% increase last week and Inventor IPD Breakout Opportunities ETF (BOUT) Jumped 9.6%, with both recovering their 50-day taxes easily. Eyeshare Extended Technology-Software Sector ETF (IGV) 2.7% and vanic vectors Semiconductor ETF (SMH) Has risen to 0.9%. Both are below their 50 day lines.
Reflecting more monolithic story stocks, Arc Innovation cut ETF by 8.2% and Arc Genomics ETF by 7.8%, but both are well below their 50-day line.
According to The big picture Every day the market direction and leading stocks and sectors must be in sync.
VW Power Day
Monday VW Power Day Volkswagen was the real answer to last year’s Tesla Battery Day, but without year-round configuration. . It is expected to describe its battery and infrastructure strategy, which shows advances in pack or cell technology.
On Tuesday, VW will release full year figures.
VW stock has risen 19% so far in March, reaching its highest level since 2009 as investors rallied on its EV. Both GM stock and Ford are up 15% this month. The VW and Ford are greatly extended. GM stock destroyed a chaotic consolidation on Friday, but rose 15% above its 50-day high.
Tesla shares rose 2.7% in March and 16% last week. But it has hit resistance at its 21-day high-moving moving average and is below its 50-day line. Many valuable growth stocks are similar to the chart of DSLA stocks.
Stock market analysis
The stock market has a new high split personality with the Dow Jones, S&P 500 and Russell 2000, while the Nasdaq is below its 50 day line.
Economic reopening plays that include mining, manufacturing, travel, transportation, various retailers, and more work well.
No wonder. The U.S. economy is set to shift from a massive recession to a major economic growth in a year. Corona virus controls are declining as vaccines are taken and cases are declining, prompting a return to normal activities, including prolonged inactive travel. Meanwhile, the 9 1.9 trillion Biden stimulus left most Americans with 4,400 checks, a very modest coveted aid package with $ 600 checks a few weeks later. With trillions of dollars in infrastructure, the White House and Congress Democrats are set to set their sights on an even bigger spending bill later this year.
To highlight travel stocks, Travel.com (TCOM) The last one Tight times for three weeks Friday. The three-week tightness is slightly above the previous level, so it provided an opportunity for investors to add shares or start a new position in TCOM stocks. United Stock came out of a similar narrow consolidation – though not a tight pattern – just above a platform.
Delta Stock, Marriott, Hilton (LDS) And Hyatt (H.) Are set on their own shelves. The Las Vegas Sands stock, which has been tight for three weeks, is confusing on the daily chart, but very tight on the weekly.
Nasdaq regresses, but does not lose
The Nasdaq made a solid gain last week and was very close to its weekly range after starting with a 2.4% fall on Monday. On Friday, the Nasdaq treasury yield fell below its 50-day low as it increased. But it was relatively good, closing just 0.6% on Friday.
Nasdaq has not confirmed the presence of legs in its rally effort and is vulnerable to increase treasury yields. A Nasdaq Follow-up day Technology stocks will ease fears of a broader market downturn, as they did in March.
But even if the Nasdaq rises again, the development names are still damaged. It does not seem normal to rush immediately to new heights for Tesla stock or other names of higher value. Keep in mind that Tesla and a lot of these stocks went into fantastic runs last year. So there are many reasons why it may take them weeks or months to re-set up the right sites.
The rise of Bitcoin and other cryptocurrencies suggests that there is still preference for monopoly assets, so high-value growth names may have another flow. But even Bitcoin has returned to key technical levels, consolidating for a few weeks before exploding again.
what to do
The good news about the split market is that while growth stocks are in wounded reserves, many economic recovery stocks are breaking down and delivering strong returns.
So investors do not have to be sidelined. Although SLIM can attract investors towards growth stocks for obvious reasons, many “sample book” all-time winners are breakthrough plays. You need to be flexible and identify which stocks are working and which are not.
Look for stocks with strong relative strength. Focus on those who set up strong revenue ratings and sound platforms.
If you are not comfortable with buying underdeveloped stocks, you can buy and play various industry plays such as SPY, IWM, ETFs or XME (mines), Jets (airlines) or XHP (home builders). Can buy. You can always stay in cash until the tech stocks really recover.
Follow Ed Carson on Twitter @IBD_ECarson For stock market updates and more.
You may also like: