Overnight Dow Jones futures were slightly lower, along with S&P 500 futures and Nasdaq futures. Thursday’s stock market rally rebounded from the previous day’s decline.
nvidia (NVDA) And the Advanced Micro Devices (AMD) were the big winners on a strong semiconductor day. Nvidia and AMD stock has filtered out some resistance levels, providing strong additional entries for existing long-term stock holders.
fellow chip maker from Broadcom (AVGO) Clear a purchase point, while playing the item Petroleum Marathon (MPC) And the a horse (a horse), at least during the day. Google Parent the alphabet (Google) A new buy signal is blinking. National anthem (ANTME) returned to a Purchase area This is where health insurance companies and service providers do well.
New أرباح Profits
Earlier Thursday, the first ET7 luxury sedans rolled off the assembly line. On March 28, deliveries of the Nio ET7 began, with two more new vehicles launching in the second half of 2022. Exping (XPEV) announces earnings on Monday, with the EV giant BYD (BYDDF) is also likely due this week, along with China EV sales for March.
Nio’s stock is down 2% in overnight trading. Shares rose 0.5 percent on Thursday. XPEV shares and BYD shares were also up slightly. Tesla stock rose 1.5% to 1013.92.
Stocks in IBD . listings
Nvidia, Tesla and Anthem stocks are working IBD Leaderboard. AMD stock has been added to SwingTrader. Google Inventory is on Long-term leaders of IBD. Tesla, Nvidia and AVGO stocks are available in defect 50.
The video included in the story discusses the market’s rebound on Thursday and analyzes Nvidia, AMD, and AVGO stocks.
Dow jones futures contracts today
Dow futures fell against fair value. S&P 500 futures fell 0.15% and Nasdaq 100 futures fell 0.2%.
The 10-year Treasury yield rose 3 basis points to 2.37%. Crude oil prices fell 1%.
stock market rise
The stock market rebound bounced back from Wednesday’s slump, gaining traction after the NATO meeting without any surprises.
The Dow Jones Industrial Average rose 1% on Thursday stock market trading. The S&P 500 rose 1.4%, with Stock Nvidia and other chip makers Among the best performers. The Nasdaq Composite Index jumped 1.9%. Small cap Russell 2000 rose 1.1%.
US crude oil prices fell 2.3% to $112.34 a barrel, continuing to drift lower in electronic trading as stocks continued to trade.
The 10-year Treasury yield rose 2 basis points to 2.34%, despite session highs.
between the Best ETFsInnovator IBD 50 (fifty) up 2.2%, while the Innovator IBD Breakout Opportunities )fit) rose 0.8%. iShares Expanded Technology and Software Fund (ETF)IGV) down 0.7%. VanEck Vectors for Semiconductors (SMH) jumped 4.9%. NVDA and AMD stocks are SMH’s major holdings, with significant ownership by Broadcom.
SPDR S&P Metals & Mining ETF (XME) Gained 2.7%, US Global X Infrastructure Development Fund (ETF) )cradle) advance 1.2%. american global aircraftPlanes) rose 2.1%. SPDR S&P Home Builders (XHB) down 1.1%. SPDR Specific Energy Fund (SPDR ETF)XLE) up 0.25%, and the Financial Select SPDR ETF (XLF) by 0.8%. SPDR Healthcare Sector Selection Fund (XLV) added 1.2%.
Stocks reflect more speculative stories, the ARK Innovation ETF (see you) up 1.1% and ARK Genomics (ARKG) by 1.2%, with both trading between the 21-day and 50-day lines. Tesla stock continues to rank number one among Ark Invest’s ETFs. Ark Invest also owns some shares of BYD and XPEV.
Nvidia stock jumped 9.8% to 281.50 in heavy trading after being out for a few days. A trader could have used Thursday’s move above this week’s highs – roughly coinciding with the early February peak – to start a new position, but the stakes are high. Thursday’s move was a better fit for additional buying, if any.
AMD stock jumped 5.8% to 120.53, moving above the 50-day and 200-day lines. An aggressive trader could use this as an opportunity to take an early position, but there is a lot of general resistance.
Broadcom stock advanced 4.5% to 626.43, making 614.74 early entries. AVGO stock is moving towards consolidation buy point from 677.86. The Relative force linethe blue line in the provided charts, is already approaching the highs.
BHP . share
BHP stock rose 1.8% to 74.27, clearing a cup with handle Buy point 73.68. Investors could have taken a position on March 18, as the mining giant broke out of a downtrend in the handle.
The mining and metals plays are trending higher, but they are subject to significant pullbacks.
Petroleum Stock Marathon
Marathon Petroleum is a major US refiner, as well as a transporter and retailer of petroleum products, so it is not as closely correlated with crude oil prices as shale oil producers.
Google stock rose 2.4% to 2831.44, bouncing back from its 200-day moving average and moving slightly above Tuesday’s high. Investors can buy GOOGL shares now as an early entry or as a long-term leader.
ANTM . stock
Anthem stock advanced 2.5% to 473.73, outperforming buy points at 470.12 and 472.11.
Market Rise Analysis
The stock market rebound bounced on Thursday, closing near session highs. The Nasdaq advanced while the S&P 500 fell above its 200-day moving average. The Dow Jones was unchanged this week, closing above the 50-day line again.
A sideways move or a modest pullback in the major indicators here wouldn’t be a bad thing. Stocks will be allowed to finish off the bases and form handles, or at least longer resistance zones.
If the market rally doesn’t stop here, the major indicators could do so near the peaks of early February.
While it was nice to have Nvidia stock pause for a few more days, it’s certainly positive to see the chipset names rebound. It’s hard to see major technical progress without chip stocks playing a major role.
Energy and commodity plays like Marathon Petroleum and BHP still look strong. Health insurers such as ANTM stocks are traded around points of purchase. Some biotech companies and pharmaceutical companies such as Regeneron Pharmaceuticals (RegionIt can work on handles or high handles. Some network stocks still look strong.
Some travel shows are trying to form new standardizations, but may use more time to expand their V-shaped styles.
Among the megacities, an Apple (AAPL) for the eighth session in a row, still in the early-entry range and close to an official breakout. But it would be nice to see a handle, or at least a pause. Google Parent the alphabet (Google) provides a buy signal. Tesla stock is back above the 1000 level in its eighth straight advance, but it could use the handle to offer a lower buy point.
what should be done
The stock market rally continues to show strong movement, bouncing back from Wednesday’s decline.
There are buying opportunities out there, but many stocks are extended or rising from the bottom. You don’t feel the need to keep adding exposure if you don’t like the settings. If you caught a show during the previous week, there is nothing wrong with sitting on your hands.
Keep working on those watchlists. Some stocks will be taken off your listings because they are now extended or overdue. A new crop of stock is coming to the fore.
Read The Big Picture Every day to stay in sync with the trend of the market, stocks and leading sectors.
Please follow Ed Carson on Twitter at Tweet embed For stock market updates and more.
You may also like: