Stock Market Today With IBD

In this podcast, the hosts discuss the exciting market milestones of the S&P 500 and NASDAQ. They analyze the performance of these indexes and share their optimism for the Russell 2000. They also talk about the ProShares Bitcoin ETF and the upcoming Bitcoin halving. Additionally, they delve into the recent developments of Sprout Social and offer strategies for handling market corrections.

Breadth was positive on both exchanges by less than 2-to-1 as the S&P 500 made another effort to move through the 5,000 level. Arm Holdings soared on earnings, Marvell Technology Group is approaching an alternate entry, while UiPath backed off highs after giving an early buy signal. Learn more about your ad choices. Visit megaphone.fm/adchoices

The stock market rally continued as Wall Street weighed another round of strong earnings reports. Netflix is holding gains well after gapping up on earnings last month;  sellers hit ELF Beauty despite another strong earnings report while Intra-Cellular Therapies is forming a base as it holds support at the 10-week line. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes continue to hold near highs, while small caps rose modestly. Buying opportunities are relatively scarce, and often from earnings. Palantir, BellRing Brands and Varonis flashed different buy signals following earnings. Learn more about your ad choices. Visit megaphone.fm/adchoices

Fed Chair Powell gave a rare interview on “60 Minutes” reiterating a slow move towards rate cuts. While the market slumped early, it just refuses to stay down. Many of the leaders are extended but there are still a few that are actionable. Advanced Micro Devices formed a recent three-weeks-tight pattern that’s worth watching. JFrog broke out of a flat base today. Expedia is forming a very shallow flat base ahead of its earnings report on Thursday. Learn more about your ad choices. Visit megaphone.fm/adchoices

Losers trounced winners Friday, but the Dow Jones and S&P 500 hit record highs while the Nasdaq roared to a two-year best thanks to Meta Platforms and Amazon. MongoDB also was a beneficiary, clearing a handle buy point, while Axon Enterprise and Synopsys flashed early entries. Learn more about your ad choices. Visit megaphone.fm/adchoices

Advancers beat declines on the Nasdaq by nearly 2-to-1. The ratio was more than 3-to-1 positive on the NYSE. The Russell 2000 small-cap index outperformed and found support at its 50-day line again. Solar stock Nextracker and Ferrari gapped up on earnings, while real estate software firm Appfolio is showing strength and support after its earnings gap. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Nasdaq composite suffered a rare distribution day, falling 2% in higher volume. Breadth was more than 2-to-1 negative on both exchanges. Royal Caribbean Cruises is showing uncanny strength ahead of earnings; Trex is forming a flat base while holding above its 10-week line, while Moody’s is trying to clear a flat base. Learn more about your ad choices. Visit megaphone.fm/adchoices

Tech stocks fell Tuesday on Apple and possible profit-taking ahead of huge earnings reports starting Tuesday night. Lululemon Athletica and Toll Brothers flirted with buying opportunities before backing off. Weatherford plunged along with many oil machinery, services and drilling plays as Saudi Arabia halted production capacity projects. Learn more about your ad choices. Visit megaphone.fm/adchoices

Advancing stocks beat decliners by more than 2-to-1 on both exchanges. The 10-year Treasury yield fell 9 basis points to 4.07% after the Treasury Department cut its borrowing plans in Q1. UiPath has started work on the right side of a cup base. Chipotle Mexican Grill cleared a flat base, while Azek gave an early buy signal as it forms a flat base. Learn more about your ad choices. Visit megaphone.fm/adchoices