Dow Jones futures soared, while S&P 500 and Nasdaq 100 futures fell before the stock market opened on Monday, with Bitcoin briefly jumping above $ 61,000 to reach its historic highs. Tesla’s shares were expected to open lower on Monday.
X
Among Dow Jones leaders, Apple (AAPL) rose 0.5% ahead of the market on Monday, while Microsoft (MSFT) rose about 0.3% in today’s stock market. Nike (NKE) is again approaching a new point of purchase after optimistically recovering its 10-week line last week.
Tesla (TSLA) fell 0.6% in the pre-market on Monday, looking to increase the loss of 0.8% on Friday.
Among the main actions to be observed, Arcelor Mittal (MT), Heavenly Hain (HAIN) and Regal Beloit (RBC) are in the buying range at the new high in the stock market.
Arcelor Mittal, Microsoft and Tesla are shares of the IBD Leaderboard. Hain Celestial and Regal Beloit were IBD’s recent day stocks.
Dow Jones Futures
Before the stock market opened on Monday, Dow Jones futures were up 0.2%, while S&P 500 futures were down less than 0.1% against fair value. Nasdaq 100 futures fell 0.1% from fair value. Keep in mind that trading in Dow Jones futures and elsewhere does not necessarily translate into real trading in the next regular stock market session.
The 10-year Treasury yield fell to 1.63% after Friday’s peak.
Among the exchange-traded funds, the Innovator IBD 50 (FFTY) was traded at 0.25% on Friday. The Nasdaq 100 Invesco QQQ Trust (QQQ) ETF fell 0.8%. Meanwhile, the SPDR S&P 500 ETF (SPY) was up 0.1% on Friday.
Stock market rally
Amid a further stock market recovery, the Dow Jones Industrial Average and the S&P 500 broke records last week. Meanwhile, the high-tech Nasdaq remains below its 50-day moving average line and about 6% below its historic highs.
IBD’s market outlook was raised to “confirmed upward trend” on March 10, with the Dow Jones Industrial Average setting new highs.
Friday’s Big Picture commented: “Avoid the trap of staying married to the great leaders of 2020. Although growth stocks have their day in the sun again, many former leaders will not necessarily be leaders when growth stocks begin to rise again. emerged in a variety of subgroups and sectors, including financial stocks, oil and gas, construction, mining, steel, chemistry, fertilizers and travel. “
ETF strategy of the stock market and how to invest
Bitcoin Price
Bitcoin briefly surpassed $ 61,000 over the weekend to hit an all-time high before reverting downwards. Bitcoin’s price was traded around $ 55,300 early in the morning, according to CoinDesk.
Bitcoin’s price reached an all-time high on March 13, reaching $ 61,556.
The Grayscale Bitcoin Trust (GBTC) ETF advanced more than 14% last week, continuing to rise from its 10-week line.
Dow Jones shares: Nike
Within the Dow Jones Industrial Average, Nike shares are approaching 148.05 points of purchase on a flat basis, according to analysis by the IBD MarketSmith chart.
The shares are about 5% away from their point of purchase amid last week’s 5.3% advance.
Actions to watch: Arcelor, Hain, Regal
Arcelor Mittal’s IBD Leaderboard shares ended Friday in the 5% buying zone, rising from 25.86 buying points on a canopy basis. Shares erupted on Thursday.
According to the Leaderboard comment, “the stock also went from a loop entry, but that entry point 25.19 is only visible on a weekly chart. The RS line has been reaching new highs since the cup started to form , a good sign. “
Hain Celestial is at an attack distance of 45.52 point of purchase on a flat base, according to the analysis of the IBD MarketSmith chart. The stock ended Friday about 3% away from the entrance.
According to the IBD Stock Checkup, the HAIN stock shows a slight 73 out of a perfect 99 IBD Composite rating. IBD Composite Rating helps investors to easily measure the quality of a stock’s technical and fundamental metrics.
Thursday’s IBD day stock, Regal Beloit, closed Friday in the buying range after 147.07 buying points on a canopy basis.
The relative strength line, which tracks performance against the S&P 500 index, is at a 52-week high. The RS line reaching a new high before or when an action overflows is especially high. IBD MarketSmith marks these stocks with a blue dot at the end of the RS line on a daily or weekly chart.
IBD Live: a new tool for daily stock market analysis
Tesla Stock
Tesla’s shares appeared to increase Friday’s almost 1% loss, falling about 0.6% ahead of the market on Monday. Actions may be forming a new basis, but it is too early to identify a new entry.
On February 22, the electric car leader broke its 10-week moving average mainline, a critical support level.
On January 25, Tesla’s shares reached a record high of 900.40, after climbing up to 93% from a 466 point of purchase in a glass with handle. The shares are about 23% below the historical record and still below its 10-week line.
Dow Jones Leaders: Apple, Microsoft
Among Dow Jones’ main stock, Apple rose 0.5% in the premarket on Monday after falling 0.8% on Friday. Apple’s stock remains below its 10-week line, but a strong recovery above the level would be optimistic for the stock outlook. For now, the stock is finding support around its 40-week long-term line.
On February 18, Apple’s stock triggered the 7% -8% loss-of-sale rule when it fell more than 7% below its 138.89 point of purchase in a glass with handle.
Meanwhile, Microsoft rose about 0.3% ahead of the market on Monday, at a pace to recover from Friday’s 0.6% drop. The stock is above its 232.96 buying point and in the buying range.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more information on growth stocks and the Dow Jones Industrial Average.
YOU MIGHT LIKE:
Main growth actions to buy and observe
Learn how to time the market with IBD’s ETF market strategy
Find the best long-term investments with IBD’s long-term leaders
MarketSmith: research, graphs, data and training in one place
How to research growth stocks: why this IBD tool simplifies the search for the main stocks