The Dow Jones Industrial Average fell more than 300 points early Thursday, with Bitcoin falling. The shares of giant Tesla EV reversed down in morning trading, while Dow Jones leader Nike fell 5%.
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Among Dow Jones leaders, Apple (AAPL) rose 0.3% Thursday, while Microsoft (MSFT) rose 0.1% in today’s stock market. Boeing (BA) is back in the buying range after a recent disruption, while Nike (NKE) fell 5%.
Tesla (TSLA) reversed downward in morning trading.
Among the main actions to be observed, leaders in records Applied Materials (AMAT), ASML (ASML), MKS Instruments (MKSI) and Qorvo (QRVO) are showing leadership potential in the recent stock market weakness.
However, Alphabet (Google Wayfair (W) are in or near buying zones. Alphabet was featured in this week’s Stocks Near A Buy Zone column, while Wayfair was Monday’s IBD 50 Stocks To Watch choice.
Alphabet, Microsoft and Nvidia are shares of the IBD Leaderboard. MKS Instruments was an action of the recent day of the IBD.
Find today’s best growth stocks to watch with IBD 50
Dow Jones Today: Treasury Yields
The Dow Jones Industrial Average fell 0.2%, while the S&P 500 fell 0.3%. Nasdaq’s high-tech compound briefly reversed upward, before dropping 0.55% in morning trading.
Overview of the US stock market today |
||||
|---|---|---|---|---|
| Index | Symbol | Price | Gain / Loss | % Change |
| Dow Jones | (0DJIA) | 32238.04 | -182.02 | -0.56 |
| S&P 500 | (0S and P5) | 3872.95 | -16.19 | -0.42 |
| Nasdaq | (0NDQC) | 12889.86 | -72.03 | -0.56 |
| Russell 2000 | (IWM) | 209.44 | -2.60 | -1.23 |
| IBD 50 | (FFTY) | 42.00 | -0.50 | -1.18 |
Last updated: 10:42 ET 3/25/2021 |
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The bonds were flat, with the 10-year Treasury yield staying close to 1.6% on Thursday morning.
Among the exchange-traded funds, the Innovator IBD 50 (FFTY) halved its initial loss to 0.7% on Thursday. The Nasdaq 100 Invesco QQQ Trust ETF (QQQ) tracker was effectively flat. Meanwhile, the SPDR S&P 500 ETF (SPY) fell 0.2%.
Stock market rally
Amid the current stock market recovery, the Dow Jones Industrial Average and S&P 500 fell sharply on Wednesday.
Meanwhile, Nasdaq, which works with high technology, has reduced initial losses, but continues to see resistance around the 13,000 level and its main 50-day moving average line. Nasdaq will need to overcome this important obstacle to maintain its upward trajectory. The 50-day line is a critical level of potential resistance. If the Nasdaq moves decisively above resistance, new highs may be on the horizon.
IBD’s market outlook was raised to “confirmed upward trend” on March 10, with the Dow Jones Industrial Average setting new highs. But now the main stock indexes are struggling again.
Wednesday’s Big Picture commented: “It was another unpleasant session for the stock market on Wednesday, with the Dow Jones Industrial Average and the S&P 500 closing near lows after the initial strength, while another wave of sales hit Nasdaq indices and low-cap stocks. ” For daily comments on the stock market, check out IBD’s Big Picture.
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Bitcoin Price
Bitcoin briefly surpassed $ 61,000 in mid-March, reaching an all-time high. Bitcoin’s price reached its maximum on March 13, reaching $ 61,556.
Bitcoin’s price fell about 7% on Thursday, to trade around $ 50,700, according to CoinDesk. The Grayscale Bitcoin Trust (GBTC) fell 7.8% in morning trading, dropping its 50-day support level.
Dow Jones shares: Boeing, Nike
Within the Dow Jones Industrial Average, Boeing is just above a buying point of 244.18 on a canopy basis, according to analysis by the IBD MarketSmith chart. The 5% buying zone rises to 256.39.
The shares fell 1.4% on Thursday, in pace to extend a losing streak to six sessions.
Nike’s shares fell 5% for a brief period after orders in China for a boycott of its products. The shares are about 14% below their 52-week high.
Chips stock to watch: applied materials, ASML, Qorvo
Chip stocks remain some of the best names in technology amid recent stock market weakness.
Applied Materials reached a new record on Wednesday. The shares fell 1.3% Thursday. The chip leader is an IBD SwingTrader stock.
ASML continues to build the right side of a potential foundation. The minimum length of a cup base is six weeks, so a new point of purchase may appear at the end of the week. ASML shares fell 0.6% on Thursday morning.
Qorvo gave up his 50-day line amid Wednesday’s liquidation. The stock is closing at a buying point of 191.93, while an early entry exists at 185.96. Early Thursday, Qorvo’s shares fell 1%.
The recent IBD stock of the day MKS Instruments is about 7% below its 177.46 point of purchase on a double bottom amid a 3% drop on Thursday. The 5% buying zone rises to 186.33.
According to the IBD Stock Checkup, MKSI shares have a perfect rating of 99 IBD Composite. IBD Composite Rating helps investors easily measure the quality of a stock’s fundamental and technical metrics.
Stocks near shopping areas: alphabet, Wayfair
IBD Leaderboard Alphabet shares are approaching 2,145.24 flat-based purchase points, according to the analysis of the IBD MarketSmith chart. The shares are about 6% below the new entry. GOOGL’s shares rose 0.2% on Thursday.
According to the Leaderboard comment, “Alphabet has made better progress than other large companies recently. Support on the 21-day line is defining the chart’s current action. The last base was the second stage.”
Monday’s IBD 50 Stocks to Watch choice, Wayfair, is trying to exceed a 343.09 point of purchase in a cup with a handle. The shares fell 2.4% on Thursday and are below the point of purchase.
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Tesla Stock
Tesla’s shares reversed about 1% lower on Thursday morning, looking to add to Wednesday’s 4.8% drop.
Tesla’s stock ended Tuesday with about 28% off its 52-week high. Tesla’s shares may be forming a new basis, but it is too early for a new ideal risk buying point.
On February 22, Tesla 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.
Dow Jones Leaders: Apple, Microsoft
Among Dow Jones’ top stocks, Apple rose 0.3% on Thursday, seeking to recover from its 2% loss on Wednesday. Apple’s stock had been recovering from its 40-week long-term line until the recent weakness and could soon try to recover its 10-week 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, software giant Microsoft rose 0.1% on Thursday and remains just above its 50-day keyline. The stock is again above its 232.96 point of purchase and approaching a 246.23 point of purchase on a new flat basis.
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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