The Dow Jones Industrial Average briefly rose 150 points before reversing the low on Tuesday, with Bitcoin exceeding $ 50,000. Palantir Technologies’ hot IPO shares plunged into profits, while Tesla shares sought to continue its recovery from a key support level.
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Among Dow Jones leaders, Apple (AAPL) fell 1.3%, while Microsoft (MSFT) fell 0.3% in today’s stock market. Nike (NKE) is approaching a new point of purchase.
Tesla (TSLA) appeared to have a winning streak on Tuesday, dropping more than 2% in midday trading. Palantir Technologies (PLTR) plunged up to 10% on profits before the stock market opened.
Advanced Micro Devices (OMG), Nvidia (NVDA) and Commercial counter (TTD) are among the top stocks in or near buying zones in Tuesday’s stock market action.
Apple, Microsoft, Palantir and Tesla are shares of the IBD Leaderboard. Nvidia was a recent IBD stock of the day. Meanwhile, Nike was featured in last week’s Stocks Near A Buy Zone column.
Dow Jones Today
On Tuesday, the Dow Jones Industrial Average fell slightly, while the S&P 500 fell 0.2%. The high-tech Nasdaq compound reversed 0.4% down in midday trading.
Overview of the US stock market today |
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|---|---|---|---|---|
| Index | Symbol | Price | Gain / Loss | % Change |
| Dow Jones | (0DJIA) | 31601.59 | +143.19 | +0.46 |
| S&P 500 | (0S and P5) | 3949.72 | +14.89 | +0.38 |
| Nasdaq | (0NDQC) | 14164.92 | +69.45 | +0.49 |
| Russell 2000 | (IWM) | 228.83 | +1.57 | +0.69 |
| IBD 50 | (FFTY) | 49.48 | +0.29 | +0.59 |
Last updated: 10:36 ET 16/02/2021 |
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Among the exchange-traded funds, the Innovator IBD 50 (FFTY) was up 0.1% on Tuesday. Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) was up 0.2%. Meanwhile, the SPDR S&P 500 ETF (SPY) added 0.1%.
Stock market rally
Looking back at the current bullish trend, November was an important month for the stock market. IBD’s The Big Picture signaled the new upward trend after the next day of the market’s rise on November 4th. Meanwhile, mid-February saw the Dow Jones Industrial Average, Nasdaq and S&P 500 hit record highs.
With the recovery of the Dow last week, Friday’s Big Picture commented: “Many market veterans like to see this sector grow along with the Dow and other major indices. This suggests growing confidence that the economy is gaining momentum. “.
Due to the recent strength, investors may again adopt an offensive stance, knowing that there are still good reasons for caution. Look for stocks that are outpacing new buying points, like Nvidia.
Focus on actions that showed strong relative strength during the recent weakness. They may be some of the market leaders if the indices continue on their way to establishing records.
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Bitcoin Price
Bitcoin’s price jumped more than 3% to record highs on Tuesday morning. Bitcoin reached $ 50,584 before reducing earnings to about $ 49,400 in the morning’s trades, according to Coindesk.
The Grayscale Bitcoin Trust (GBTC) advanced 4% and is at new highs.
Dow Jones shares: Nike
Within the Dow Jones Industrial Average, Nike is about 4% from a 148.05 point of purchase on a new flat base, according to analysis by the IBS MarketSmith chart. The shares fell 0.5% on Tuesday morning.
Nike shares have optimistically recovered its 50-day moving average line in the past few sessions.
Gains from Palantir
Early on Tuesday, Palantir Technologies’ IPO shares reported strong results in the fourth quarter, but the revenue guidance for 2021 was slightly below expectations.
Palantir’s shares plunged more than 10% in morning trading before reducing losses. He is testing his 50-day support level.
Actions to watch: AMD, Nvidia, Trade Desk
Advanced Micro Devices, with the largest chip stock, is approaching 99.33 points of purchase on a flat basis. The shares fell more than 1% on Tuesday, threatening to break a three-day winning streak.
IBD Leaderboard Nvidia’s shares are in the 5% buy zone, exceeding the 587.76 flat-point buy point amid a 1% increase on Tuesday. On February 8, the stock burst above an early entry of 560.07.
According to the Leaderboard comment, “Nvidia has moved out of a flat base and is on the purchase ribbon. With this change, investors can increase their position or make an initial purchase.”
The Trade Desk is building the right side of a cup base, which shows a 972.90 point of purchase. Watch out for a loop to form, offering a riskier entry. The shares gained 1.2% on Tuesday morning.
A potential failure is the delayed relative force line of the action. It remains relatively far from its old maxims, indicating underperforming the stock market.
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Tesla Stock
Tesla’s shares appeared to have a two-day winning streak on Tuesday, falling more than 2%. On Friday, stocks almost fell to the 10-week moving average line before reversing upwards. A strong movement in this level of key support would signal a new buying area.
On January 25, Tesla shares reached a record high of 900.40, after rising 93% from a 466 point of purchase in a glass with handle.
Dow Jones Leaders: Apple, Microsoft
Among Dow Jones’ top stocks, Apple fell 1.3% on Tuesday and remains below its 138.89 point purchase in a cup with cable. The shares withdrew from entry on January 28.
Meanwhile, Microsoft fell 0.3% on Tuesday morning and is just shy of records. The software giant’s shares surpassed a buying point of 232.96 in recent sessions. The stock is at the top of the 5% buying zone, which rises to 244.61.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more information on growth stocks and the Dow Jones Industrial Average.
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