Stock Market Today With IBD

The Personal Consumption Expenditures report is due out on Thursday and earnings are winding down. Is this the time for the market to pause? Bitcoin play Coinbase doesn’t seem to be ready for a pause as it retook a buy point from a week ago. And homebuilder Dream Finders Homes also had a powerful breakout today. But when you look at Alphabet and Apple, these Magnificent 7 members aren’t looking nearly as magnificent. Learn more about your ad choices. Visit megaphone.fm/adchoices

The S&P 500 hit record highs thanks to Nvidia earnings with the Nasdaq almost there. The market rally is already looking stretched again. Breadth has been so-so, though leadership remains robust. Lennar is flirting with a breakout while Manhattan Associates around potential entries. AMD stock had a wild week but yet another tight weekly close as it works on a base. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Nasdaq composite closed less than 200 points from its all-time high of 16,212 set in November 2021. But market breadth was suspect again, with advancers beating decliners on both exchanges by a small margin. ServiceNow is making a solid second test of its 10-week line; Kinsale is holding gains after an earnings surge, while oilfield services firm TechnipFMC is forming the right side of a base. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Nasdaq composite and Russell 2000 lagged but rallied off lows during the 30 minutes of trading. Earnings and weak guidance from Palo Alto Networks weighed on sentiment, but homebuilder Toll Bros. rallied sharply after earnings. Palantir is testing a prior buy area. Learn more about your ad choices. Visit megaphone.fm/adchoices

Techs led Tuesday’s market retreat, especially AI names ahead of Nvidia earnings. The Nasdaq undercut its 21-day moving average. Manhattan Associates and ServiceNow are pulling back to key levels. GigaCloud suffered a big sell-off after a massive run. Learn more about your ad choices. Visit megaphone.fm/adchoices

Stocks had a mixed week, but held up near highs despite hot inflation. Nvidia earnings loom as a huge test for the AI-led rally. Super Micro suffered a bearish sell-off after a climax-like run. Meanwhile, outside of tech, homebuilder Lennar and oil machinery play Weatherford are near buy points. Learn more about your ad choices. Visit megaphone.fm/adchoices

The bull run continued Wednesday, helped by another round of strong earnings reports, even as January retail sales came in much worse than expected. The 10-year Treasury yield fell for a second day after soaring Tuesday. Real estate firm Jones Lasalle gapped up powerfully; Airbnb shot higher after an earnings sell-off; Commvault Systems is holding gains bullishly. Learn more about your ad choices. Visit megaphone.fm/adchoices

The stock market rebounded Wednesday after Tuesday’s sell-off. The indexes bounced from or near key levels. But it wouldn’t take much for the Nasdaq to be extended again, while bullish sentiment is near extreme levels. Netflix offered a buying opportunity for nimble traders, while Celsius cleared some key levels. Birkenstock is setting up. Learn more about your ad choices. Visit megaphone.fm/adchoices

The stock market suffered significant losses Tuesday following hot CPI inflation and negative reactions to key earnings reports. Many leading stocks rebounded from key levels, but market breadth was very weak. Shopify sold off on earnings while Copart and MercadoLibre held up reasonably well. Learn more about your ad choices. Visit megaphone.fm/adchoices

A rally by small and midcap names made up for a small retreat by the Nasdaq composite, but only after the Nasdaq made further ground past 16,000. It is less than a 1% rise away from eclipsing its November 2021 all-time peak. The Russell 2000’s solid gain helped affirm good numbers in terms of market breadth. AI-themed companies continue to attract attention and investor dollars, for good reason. But techs are not the only game in town lately for investors searching for stocks with breakout potential. Today we’ll highlight new buy points emerging in PulteGroup and Diamondback Energy as well as note a profit-taking sell rule in Monday.com ahead of its quarterly results early on Monday. Learn more about your ad choices. Visit megaphone.fm/adchoices