Stock Market Today With IBD

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

An extremely extended Nvidia reversed lower Friday, taking down other the Nasdaq. Is this a blip or character change for the AI leader? Meanwhile, Square-parent Block and Brazilian brokerage XP flashed buy signals. Learn more about your ad choices. Visit megaphone.fm/adchoices

Winners beat losers on the S&P 500 by more than 2 to 1, but the ratio was less than 2 to 1 positive on the Nasdaq. All eyes will be on Friday’s employment report, which is expected to show February nonfarm payrolls up 190,000. Entegris topped a new buy point in heavy volume; sellers have been in On Holding ahead of next week’s earnings report; Cloudflare is pulling back in orderly fashion after surging on earnings. Learn more about your ad choices. Visit megaphone.fm/adchoices

Fed Chairman Jerome was on Capitol Hill Wednesday, giving his Semiannual Monetary Report to Congress in front of a House committee. He’ll be in front of the Senate tomorrow ahead of Friday’s jobs report. The Nasdaq composite rebounded after some selling Tuesday, but early gains faded after sellers came into the market just after 1:30 p.m. ET. Dexcom broke out in heavy volume; CyberArK is consolidating above its 10-week line, while Block is setting up in a cup-with-handle base after a bullish earnings report. Learn more about your ad choices. Visit megaphone.fm/adchoices

The stock market retreated Tuesday, with the Nasdaq giving up its Thursday-Friday gains to record highs. Software stocks were big losers Tuesday, including Duolingo. Bank stocks such as PNC Financial continue to do well, while homebuilders like Lennar are holding up well. Learn more about your ad choices. Visit megaphone.fm/adchoices

While the Nasdaq composite and S&P 500 took a little pause there were still some big movers under the surface. With Super Micro joining the S&P 500 it got a 25% boost but is wildly extended. BlackRock broke out of a tight flat base as some banks rallied and bitcoin hit highs. Rollins broke out of a cup-with-handle with a group that has seen recent movement to the forefront. Finally, Samsara is setting up in a base of its own but has more volatility and earnings coming on March 7. Learn more about your ad choices. Visit megaphone.fm/adchoices

The stock market rally had a strong week, with the Nasdaq hitting a record high and small caps moving back above recent highs. That offered buying opportunities for leaders such as Taiwan Semi, but the Nasdaq is already extended again. Tidewater raced higher on earnings and oil prices, while Confluent is setting up. Investors need to be patient and nimble. Learn more about your ad choices. Visit megaphone.fm/adchoices

With PCE data coming in as expected, indexes got a strong start. After some slow action midday they really ramped up into the close. AMD got a nice boost breaking out of tight area, Celsius rocked its earnings and put the squeeze on short sellers. Meanwhile, Duolingo got back above its 50-day line on a big earnings move. Learn more about your ad choices. Visit megaphone.fm/adchoices

The 10-year Treasury yield dipped 4 basis points to around 4.27% as the bond market ponders a “higher for longer” interest-rate scenario for the Fed. Amid some selling in the online travel group, India-based MakeMyTrip is showing strength and support; restaurant stock Cava is back near an all-time high after reporting earnings; On Holding is showing relative strength ahead of its March 12 earnings report. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes are pausing at record highs while small caps are running back to two-year best, just what the market rally needs. There aren’t many stocks to buy, though Brazil’s Embraer flashed an early entry. AMD and Shift4 Payments showed positive action. Learn more about your ad choices. Visit megaphone.fm/adchoices