Dow Jones futures, along with S & P 500 futures and NASDAQ futures, have remained largely unchanged. The stock market rebound bounced back Thursday from the previous day’s recession.
X
Nvidia (NVDA) and Advanced Micro Devices (AMD) was a big winner on a good day for semiconductors. Nvidia and AMD stocks have cleared several resistance levels and provided active add-on entries to existing long-term holders.
Fellow chip maker Broadcom (AVGO) Clear buy points during commodity play Marathon oil (MPC) and BHP (BHP) Occurred at least during the day. Google parents alphabet (GOOGL) The fresh by signal flashed. National anthem (ANTM) I’m back in the buying zone because my health insurance company and service provider are working well.
Nio’s earnings
After closing Tesla (TSLA) EV rival Nio (NIO) reported wider losses than expected, while earnings were slightly higher.
At the beginning of Thursday, the first luxury ET7 sedan rolled off the assembly line. The Nio ET7 will be available on March 28th. Xpeng (XPEV) reports earnings with EV giants on Monday BYD (BYDDF) With EV sales in China in March, that week is also scheduled.
Nio shares fell slightly in overnight trading. Share prices rose 0.5% on Thursday. XPEV and BYD stocks also rose slightly. Tesla shares rose 1.5% to 1,013.92.
IBD List Stocks
Nvidia shares, Tesla, and Anthem are listed on the IBD leaderboard. AMD shares have been added to SwingTrader. Google shares are in the IBD long-term leader. Tesla, Nvidia and AVGO are in stock at IBD50.
A video embedded in the story describes Thursday’s market recovery and analyzes Nvidia, AMD, and AVGO stocks.
Dow Jones Futures Today
Dow Jones futures were flat against fair value. S & P 500 futures fell 0.1% and Nasdaq 100 futures fell 0.1%.
Keep in mind that nighttime action on Dow futures and elsewhere does not necessarily lead to actual trading at the next regular stock market session.
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Stock market rally
The stock market backlash has recovered from Wednesday’s recession and has surprisingly gained momentum after the NATO meeting.
The Dow Jones Industrial Average rose 1% on Thursday’s stock market trading. The S & P 500 index rose 1.4%, with Nvidia stocks and other chip makers performing best. The Nasdaq Composite Index surged 1.9%. The small Russell 2000 has advanced 1.1%.
US crude oil prices fell 2.3% to $ 112.34 a barrel, and e-commerce continued to fall while stocks continued to trade.
The Treasury yield for 10 years rose 2 basis points to 2.34%, although it was off the session’s highests.
ETF
Among the best ETFs, Innovator IBD 50 (FFTY) rose 2.2% and Innovator IBD Breakout Opportunity (BOUT) rose 0.8%. iShares Expanded Tech-Software Sector ETF (IGV) is down 0.7%. VanEck Vectors Semiconductor (SMH) jumped 4.9%. NVDA and AMD shares are SMH’s major holdings, and Broadcom is a significant holding.
SPDR S & P Metals & Mining ETFs (XMEs) rose 2.7% and Global X US Infrastructure Development ETFs (PAVEs) rose 1.2%. US Global Jets (JETS) rose 2.1%. SPDR S & P Homebuilders (XHB) fell 1.1%. Energy Select SPDR ETFs (XLEs) rose 0.25% and Financial Select SPDR ETFs (XLFs) rose 0.8%. Healthcare Select Sector SPDR Fund (XLV) added 1.2%.
Reflecting stocks with a more speculative story, ARK Innovation ETFs (ARKK) rose 1.1% and ARK Genomics (ARKG) rose 1.2%, trading on the 21st and 50th lines. Tesla shares continue to hold the number one stake in Ark Invest’s entire ETF. Ark Invest also owns shares in BYD and XPEV.
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Nvidia stock
Nvidia’s share price surged 9.8% to 281.50 after a few days of hiatus. Traders were able to open new positions using Thursday’s move above this week’s highs (almost in line with the peak in early February), but the risk is high. Thursday’s move was more suitable for buying add-ons.
AMD stock
AMD’s share price rose 5.8% to 120.53, above the 50th and 200th lines. Aggressive traders could have used this as an opportunity to take an early position, but there is a lot of overhead resistance.
AVGO stock
Broadcom’s share price rose 4.5% to 626.43, clearing the early entry of 614.74. AVGO stocks are rising towards the integrated purchase point of 677.86. The blue line of the provided chart, the relative intensity line, is already approaching the highs.
BHP stock
BHP stock rose 1.8% to 74.27, with a purchase point of 73.68 for cups with handles. Investors should have been able to take a position on March 18 as the mining giant broke the downtrend in the steering wheel.
Mining and metal regeneration are on the rise, but there is a tendency for significant setbacks to occur.
Marathon oil stock
According to MarketSmith’s analysis, MPC shares rose 1.2% to 81.39, just below the 81.49 flat-based buypoint. Stock prices reached 81.75 during the day.
Marathon Petroleum is a major US refiner, retailer and transporter of petroleum products, so it is not as closely related to oil prices as shale oil producers, for example.
Google stock
Google’s share price rose 2.4% to 2,831.44, rebounding from the 200-day moving average and slightly above Tuesday’s highs. Investors can buy GOOGL shares as an early entry or long-term leader.
ANTM stock
Anthem’s share price rose 2.5% to 473.73, above the buypoints of 470.12 and 472.11.
UnitedHealth (UNH) and Molina Health (MOH) Increased within the purchase zone. CVS health (CVS) and HCA Healthcare (HCA) is also working on buy points.
Time the market with IBD’s ETF market strategy
Market rally analysis
The stock market rebound rebounded on Thursday, closing near the session’s highs. Nasdaq took the lead while the S & P 500 was above the 200-day moving average. The Dow Jones closed the deal again across the 50-day line, although it hadn’t changed much that week.
The sideways action or moderate pullback of the main index here is not a bad thing. It will allow the stock to finish the base to form a handle, or at least allow a longer resistance area.
If market recovery does not stop here, major indices could stop near their peak in early February.
It’s nice to see the Nvidia stock pause for a few more days, but it’s definitely positive to see the chip name rebound. It is difficult to see major technological advances without chipstock playing a major role.
Energy and commodity movements such as marathon oil and BHP stocks still look strong. Health insurance companies such as ANTM stocks trade mainly on buypoints.Some biotechnology and pharmaceutical companies etc. Regeneron Pharmaceuticals (REGN) may be working with a handle or high handle. Some network stocks still look strong.
Some travel plays are trying to build new integrations, but it may take a little longer to spread the V-shaped pattern.
In the mega cap, Apple (AAPL) has risen in eight consecutive sessions, but is still close to the official breakout from early entry. But the handle, or at least the pause, would be nice to see. Google parents alphabet (GOOGL) provides a purchase signal. Tesla shares have surpassed 1,000 levels eight times in a row, but were able to use the steering wheel to offer lower buy points.
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What should I do
Stock market rebounds have bounced off Wednesday’s recession and continue to show strong moves.
There are buying opportunities, but many stocks are growing or missing from the bottom. If you don’t like the setup, you don’t have to keep adding exposures. If you picked up the exposure the previous week, it’s okay to sit in your hand.
Keep working on those watchlists. Some stocks are off the list because they have been extended or are currently behind. New stocks are coming to the fore.
Read the big picture every day to keep the market direction in sync with the major stocks and sectors.
Follow Ed Carson on Twitter. @IBD_ECarson The latest information on the stock market.
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