Stock Market Today With IBD

 Indexes faded into the close but still ended with solid gains. But don’t be tempted. One day isn’t enough to change a trend. Still it’s worth noting stocks that are doing well. On the defensive end, Church & Dwight broke out of a flat base, Alphabet has reestablished itself as a relative strength leader and Heico is flirting with resistance around 200. Learn more about your ad choices. Visit megaphone.fm/adchoices

The podcast delves into the recent downturn in the stock market, particularly the break of the bull market precedent. They analyze the unhealthy action of Nvidia and SMCI, while highlighting setups like Sprouts to watch. The importance of adapting strategies, technical analysis, and risk management amidst market uncertainty is emphasized.

The Nasdaq composite and S&P 500 extended their losing streaks to five sessions after early gains faded. The Nasdaq held up relatively well despite an earnings sell-off for Taiwan Semiconductor. The 10-year Treasury yield added 5 basis points to around 4.64%. Embraer and Quanta Services are pulling back in constructive fashion, while Texas Roadhouse is setting up in a new base. Learn more about your ad choices. Visit megaphone.fm/adchoices

The 10-year Treasury yield dropped 7 basis points to around 4.59%, but sellers still hit growth stocks hard. Oil fell 3% to around $82.75 a barrel. Eli Lilly initially popped on positive news but couldn’t hold gains; Itron is setting up in a nice base; Google parent Alphabet is still showing strength with a relative strength line near highs. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes held their ground despite comments from Fed chief Jerome Powell, but remain below their 50-day moving averages. Some leading stocks had solid sessions, including Sea Limited, DraftKings and Datadog. Learn more about your ad choices. Visit megaphone.fm/adchoices

The back-and-forth between Iran and Israel is still putting some pressure on stocks and raising volatility. An early morning gap up faded and then some by the close with few areas left unscathed. Atkore had a nice move higher finding support at its 10-week line as did Casey’s General Stores. Meanwhile, HealthEquity has been skirting around its 10-week line for a few weeks now and just isn’t bowing to downside pressure. Learn more about your ad choices. Visit megaphone.fm/adchoices

Thursday looked promising, but now we need to readjust our expectations. Learn more about your ad choices. Visit megaphone.fm/adchoices

Breadth was lackluster again, along with volume, but leading stocks continue to act well. Winners had a slight edge over losers on both exchanges. In the chip sector, Broadcom and ASML are setting up in new bases with healthy RS lines, while Airbnb is in a buy zone. Learn more about your ad choices. Visit megaphone.fm/adchoices

Sellers hit stocks hard after core consumer prices on a year-over-year basis came in hotter than expected for the fourth straight month. The 10-year Treasury spiked 19 basis points to 4.56%.  Declining stocks outnumbered advancers on the Nasdaq by nearly 4-to-1, but buyers lifted the index off lows by the close. Axon and Ares Management are both forming flat bases, while Cava is in an alternate buy zone. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes didn’t make big moves Tuesday ahead of Wednesday’s CPI inflation report. Nvidia stock slumped Tuesday, undercutting recent lows but finding 10-week line support. Royal Caribbean fell below a recent buy point. But Nutanix is holding up, close to forging a new base. Learn more about your ad choices. Visit megaphone.fm/adchoices