Stock Market Today With IBD

The Nasdaq composite reversed lower after rising 1.3% intraday. Despite the selling, breadth was positive on both exchanges: Less than 2 to 1 positive on the Nasdaq and nearly 3 to 1 positive on the NYSE. ServiceNow and GE Aerospace tried to clear buy points; Wingstop is building a new base. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Nasdaq composite closed below its 50-day moving average, and the S&P 500 marked its first distribution day since the Aug. 13 follow-through day. Declining stocks beat advancers by more than 2 to 1 on the Nasdaq. The ratio was less than 2 to 1 negative on the NYSE. Palantir is pulling back in light volume after an earnings rally; TransDigm is back near highs in a shallow cup base; investment bank Evercore is holding gains well after a recent breakout. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes had another quiet session as investors choose not to make any big new moves ahead of Nvidia earnings. Nvidia is setting up though. Meanwhile, two recent new issues, GE Vernova and Ardent Health, flashed buy signals Tuesday, at least intraday. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Dow Jones industrial average hit a new all-time high intraday but the power didn’t last. The Dow and Russell 2000 fared the best but weakness in technology dragged down the Nasdaq composite and S&P 500. Still, the pause here isn’t necessarily a bad thing. Sprouts Farmers Market showed a nice pop above 100 after consolidating gains from its last earnings report. Netflix looks like it could but in a handle here as it hits all-time highs and MercadoLibre might give an add on entry as it consolidates around 2000. Learn more about your ad choices. Visit megaphone.fm/adchoices

This week’s discussion centers on the stock market’s reaction to potential interest rate cuts from the Federal Reserve. Kava and Goldman Sachs are highlighted for their recent performance, alongside insights on Royal Caribbean. The rally in home builder stocks, especially the XHB ETF, is explored, linking gains to favorable interest rates. The hosts analyze trends in small-cap stocks and sector ETFs, emphasizing the potential in biotech and semiconductors. They also share strategies for disciplined stock selection and personalized screening techniques.

The Nasdaq came down to its 50-day moving average Thursday ahead of Jerome Powell’s speech Friday morning in Jackson Hole. Traders are still leaning toward 100 basis points in rate cuts over the next three Fed meetings. On Holding fell in light volume after Wednesday’s breakout attempt; PDD is a rare bright spot in China; DoorDash is setting up in a nice base. Learn more about your ad choices. Visit megaphone.fm/adchoices

Breadth was solid again with winners beating losers on the Nasda by about 2 to 1. The ratio was nearly 3 to 1 positive on the NYSE. Annual nonfarm payrolls were revised lower by 818,000, but the stock market took the news in stride. Procept soared after the company received FDA clearance for a next-generation surgical robot; Applovin is near the top of a short consolidation; Birkenstock is still in a buy zone ahead of next week’s earnings report. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes retreated modestly after several big gains, a well-deserved break after several strong gains. A pause also makes sense with Fed chief Powell’s big speech and Nvidia earnings coming up. Palo Alto Networks and Netflix flashed buy signals while Meta is trading just below a buy point. Learn more about your ad choices. Visit megaphone.fm/adchoices

Indexes tacked on more gains to last week’s stellar returns. All 11 sectors of the S&P 500 were up and tech is back in the lead. Coupang cleared an early entry at 23 and is on its way to a 52-week high. Spotify had a milder, but still strong move from a tight area and Apple is on the threshold of a buy point. Learn more about your ad choices. Visit megaphone.fm/adchoices

Mike Webster and Justin Nielsen walk through this week's technical action and stocks to watch in the Friday extended version of Stock Market Today. Learn more about your ad choices. Visit megaphone.fm/adchoices