Stock Market Today With IBD

Given the poor finish on Friday it was nice to see a rebound, but the indexes still have some work to do. It was still an inside day for a lot of stocks and the 50-day line is still looming as potential resistance. Lululemon jumped on an addition to the S&P 500, KLA is showing strength among semiconductors and AeroVironment is worth a revisit as it breaks a downtrend.  Learn more about your ad choices. Visit megaphone.fm/adchoices

After a strong start to the week, the major indexes and leading stocks had a rough finish. The Nasdaq, which reclaimed its 50-day line on Wednesday, fell sharply Friday. Leading stocks struggled. Tesla fell back toward its 50-day ahead of earnings. Sterling Construction plunged. Energy was an exception, with Weatherford advancing with oil prices. Learn more about your ad choices. Visit megaphone.fm/adchoices

Headline consumer prices were slightly hotter than expected, but core prices were in line. The 10-year Treasury yield reversed sharply higher after hitting a low of 4.53%. Published reports blamed a weak 30-year Treasury auction. The U.S. dollar also surged, fueling negative sentiment. Biotech Vertex is showing relative; KLA rallied for the sixth time in seven trading sessions; MakeMyTrip continues to hold above its 10-week line. Learn more about your ad choices. Visit megaphone.fm/adchoices

Breadth was slightly negative on the Nasdaq but slightly positive on the NYSE. The minutes from the September Fed meeting showed the majority of officials favoring one more rate hike before the end of the year. Money flowed into bonds again, sending the 10-year Treasury yield lower for a second straight session. Adobe is back above its 10-week line as it forms a good base, while Parsons and Lennox International are near buy points. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes continued to advance with Treasury yields tumbling, but the Nasdaq hit resistance at the 50-day line. Uber, Novo Nordisk and Super Micro triggered early entries, with SMCI making a powerful move. Learn more about your ad choices. Visit megaphone.fm/adchoices

Indexes shook off early weakness following attacks on Israel by Hamas and the subsequent declaration of war. Energy stocks won the day with Weatherford following up on Friday’s strength. Aerospace/Defense stocks also had a strong day including drone maker AeroVironment, and finally Vertiv is poised to move to new highs after already doubling in a few short months. Learn more about your ad choices. Visit megaphone.fm/adchoices

 For a third straight session, the major indexes closed near highs, staging a big, bullish upside reversal on Friday. A number of leading stocks flashed buy signals, including the last three Stock Of The Day selections: Arista Networks, CrowdStrike and Eli Lilly. Learn more about your ad choices. Visit megaphone.fm/adchoices

The 10-year Treasury yield fell for the second straight session, fueling positive sentiment. But oil fell sharply for the second straight session on demand concerns. In the biotech space, Neurocrine Biosciences is setting up a good base, along with futures exchange operator CME Group. Remitly Global is making a solid test of its 10-week line. Learn more about your ad choices. Visit megaphone.fm/adchoices

Breadth was weak again on the Nasdaq, with winners beating losers by 4 to 3. Oil stocks sold off again as WTI crude oil futures slumped 5.6% to settle at $84.22 a barrel. Truck maker Paccar cleared a trendline as it forms a flat base; Tesla drew closer to a cup-with-handle buy point, while Duolingo reclaimed a 162.20 entry. Learn more about your ad choices. Visit megaphone.fm/adchoices

Strength in the labor market from the latest JOLTS report sent the 10-year yield soaring and puts more attention on the jobs report Friday. Market breadth continued to suffer as stocks got pummeled. Still, it’s a good idea to keep watch lists fresh with Alphabet and Halliburton showing potential support at their 50-day lines. But you could also have a watch list of stock to short like Ferrari. Learn more about your ad choices. Visit megaphone.fm/adchoices