Stock Market Today With IBD

The stock market rally retreated from highs, but erased solid losses by the close, helped by Treasury yields reversing lower. Netflix moved back into a buy zone. Shift4 Payments and Samsara flashed buy signals, rebounding from key support levels like many leading stocks. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes gradually picked up steam in Wednesday’s trading, nearing 52-week or all-time highs. Tech giants led the way, including Microsoft and ServiceNow, which both flashed buy signals. GigaCloud Technology, which has been on a monster run, reversed sharply lower. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes largely held Monday’s big rebound, with the Nasdaq finding support at the 21-day line. More leaders flashed buy signals, including Palo Alto Networks and Cameco. Howmet Aerospace is maintaining altitude within a buy zone, close to new entries as well. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes got a strong start for the week as they built on gains throughout the day. The 10-year treasury yield may have trouble holding above 4% on the near term. In addition to tech,  consumer stocks were alive and well with Lululemon Athletica turning a loss into a gain with support at its 21-day line. Home builders were strong as Toll Brothers popped back above 100. But it wasn’t all rosy. Boeing dropped on news which brings up loss-cutting strategies when stocks don’t work out. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes tried to bounce Friday, but closed near weekly lows, snapping a nine-week win streak. The S&P 500 is trying to hold its 21-day line. Nvidia and Spotify showed bullish action, while PulteGroup was resilient despite rebounding Treasury yields. Learn more about your ad choices. Visit megaphone.fm/adchoices

Interest rates rose as weekly jobless claims fell more than expected, while private employers added 164,000 jobs, much more than expected. Merck and Amgen outperformed in the Dow Jones. Financial stocks also did well. Apollo Management and Novo Nordisk gave buy signals, while Fifth Third Bancorp continues to show strength and support ahead of a busy week of earnings reports in the financial sector. Learn more about your ad choices. Visit megaphone.fm/adchoices

Declining stocks beat advancers on the Nasdaq by about 3 to 1. The Nasdaq made a stand at its 21-day line Tuesday but closed below the support level. The 10-year Treasury yield reversed lower after hitting 4%. Blackstone is close to retesting a prior entry, while Shopify and Ryanair are near first tests of their 10-week lines. Learn more about your ad choices. Visit megaphone.fm/adchoices

The podcast discusses the market action on January 2nd, including the decline of tech leaders Celsius, Eli Lilly, and Microsoft. They analyze the NASDAQ's movement, potential rotation to defensive names, and the performance of US oil fund and healthcare stocks. The hosts also discuss the performance and analysis of Celsius and Eli Lilly, providing valuable insights for investors.

The major indexes closed out the year with their ninth straight weekly gains, capping the Nasdaq’s best year since 2003. Some more buying opportunities are developing, with Nvidia near a traditional buy point, MercadoLibre consolidating after a recent run and Celsius flirting with an aggressive entry.  Learn more about your ad choices. Visit megaphone.fm/adchoices

The Russell 2000 halted a four-session win streak, but the small-cap index is still on pace for its 7th straight weekly gain. The Nasdaq and S&P 500 are working on nine straight up weeks, resulting in a frothy market. Two enterprise software stocks – Freshworks and UiPath – have the potential to be leaders in 2024, while China-based PDD is still showing strength after gapping up on earnings in late November.  Learn more about your ad choices. Visit megaphone.fm/adchoices