Stock Market Today With IBD

The major indexes all hit record highs during the week, fueled by two familiar catalysts: A dovish Fed and AI optimism. Breadth was strong beyond tech with a number of stocks breaking out. Uber, Eli Lilly and CrowdStrike are setting up again in somewhat messy patterns. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Nasdaq composite rallied 1%, but early gains faded, hurt by a 4% drop for Apple. Small caps outperformed for the second straight session. Reddit had a strong debut after pricing at 34. Financial stocks also outperformed and several gave buy signals, including Ares Management. Duolingo limped past a 241.86 entry, while an early breakout faded for Neurocrine Biosciences. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Federal Reserve policy statement could’ve been hawkish in light of recent hot inflation data, but it wasn’t. The Fed envisions three rate cuts before the end of the year, in line with market expectations. CyberArk, Monday.com and JFrog continue to trade well with relative strength lines near new highs. Learn more about your ad choices. Visit megaphone.fm/adchoices

Market resilience seen with Nvidia reversing higher; Woodward and Arista Networks at buy points; Synopsys making bullish move. Delving into navigating market volatility around Fed meetings, analysis of software, chips, and aerospace stock performance, and insights on earnings growth and market performance.

The Nvidia GTC conference is in full swing but maybe it’s time to look outside of AI? The Nasdaq composite led the day but attention may also shift to March Madness brackets and a setup in DraftKings breaking a downtrend. A Fed meeting is coming this week which will put the focus on financials like Apollo Global Management with support at its 10-week line. Finally, if you need to get away from it all there is Royal Caribbean as a shallow cup base forms. Learn more about your ad choices. Visit megaphone.fm/adchoices

The key indexes continued to pause or pull back from recent highs, with the Nasdaq and Russell 200 testing the 21-day line. Sideways action could create new buying opportunities, but right now is fueling more fake outs, with ServiceNow and East West Bancorp down but not necessarily out. Arista Networks has a new flat base. The Fed meeting and two big AI meetings are on tap. Learn more about your ad choices. Visit megaphone.fm/adchoices

The 10-year Treasury yield spiked by 10 basis points to 4.29% after wholesale prices came in higher than expected. February retail sales were also soft as the Nasdaq and S&P 500 marked fresh distribution days. Alphabet moved above its 50-day line; Ares Management is forming a new base; Modine Manufacturing could have a bigger pullback in store after breaking an upper channel line. Learn more about your ad choices. Visit megaphone.fm/adchoices

Breadth was slightly negative on the Nasdaq and slightly positive on the NYSE. The 10-year Treasury yield rallied up to a key level near 4.19% ahead of Thursday’s PPI report. Microsoft is basing nicely above its 10-week line; Freeport-McMoRan soared with other copper stocks; Coupang is still in a buy zone. Learn more about your ad choices. Visit megaphone.fm/adchoices

Big tech stocks like Nvidia led the major indexes higher despite a somewhat-hot CPI inflation report. ServiceNow, Shockwave Medical, and Archrock all showed buy signals. Analysis includes market performance, early trend identification, software and chip stock performance, and stock opportunities in the medical and energy sectors.

After Friday’s reversal you would expect more weakness but indexes didn’t give up a lot of extra ground. Arch Capital was one of the few breakouts for the day and it isn’t alone in its strength as other insurance stocks also saw gains. Meanwhile, On Holding is setting up with a cup with handle with a buy point at 35.58 and Neurocrine Biosciences is carving out a flat base with a 143.35 buy point. Learn more about your ad choices. Visit megaphone.fm/adchoices