Stock Market Today With IBD

The Nasdaq led the major indexes higher for the week, but there were big highs and lows. The Russell 2000 hit 2023 lows as bank stocks kept tumbling, though they steadied somewhat Friday. PagerDuty, MercadoLibre and Meritage Homes are setting up. But this is still a divided, volatile market rally attempt. Bec cautious. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Nasdaq composite surged 2.5% intraday but closed near lows after rallying close to the 12,000 level again. The S&P 500 also pared gains and took out Wednesday’s low after another attempt to reclaim the 4000 level. KB Home jumped after reporting earnings, Flywire fell in light volume for the second straight session while MarketAxess halted a three-session slide. Learn more about your ad choices...

The Federal Reserve, as expected raised its key lending rate by another quarter point to a range of 4.75% to 5%. It sees the terminal rate at 5.1% by the end of the year, which implies one more rate hike. The Nasdaq composite and S&P 500 ran into key resistance levels before turning lower, but Microsoft, Lam Research and Meritage Homes held up relatively well. Learn more about your ad choices. Vis...

The major indexes rebounded as Treasury Secretary Janet Yellen said the U.S. would do more to protect bank deposits if needed. But volume was light heading into the Fed rate hike decision. On Holding blasted out of base on strong results and guidance. Aehr Test Systems surged as many chip plays backed off early gains. Google flashed a possible early entry as it released its AI chatbot Bard for tes...

Financials and energy saw brutal losses last week but tried to make a stand on Monday. Meanwhile, tech lagged a bit after outperforming recently. Cyber security firm Palo Alto Networks is holding near a recent buy point and Booking.com and First Solar are potentially actionable with bounces from moving average lines. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Nasdaq rose strongly last week, reclaiming all the moving averages. But the other indexes are below those key levels amid the ongoing bank crisis. Chip stocks remain strong, with Aehr Test Systems forging a new base. Lennar rebounded from key levels. Chinese e-commerce giant PDD is setting up with earnings on tap.   Learn more about your ad choices. Visit megaphone.fm/adchoices

Stock indexes reversed sharply higher after the Wall Street Journal reported that JPMorgan and other big banks were in talks with First Republic Bank about a capital infusion. The dollar amount of $30 billion was confirmed late in the session. Winners beat losers on the Nasdaq by more than 2-to-1. Learn more about your ad choices. Visit megaphone.fm/adchoices

Stock indexes fell but closed off lows Wednesday as investors flocked to bonds again. Sentiment turned positive in the afternoon after Switzerland said it would provide liquidity to Credit Suisse if needed. A lower interest-rate environment fueled more buying in large-cap technology stocks. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes rose Tuesday, but came well off their late morning highs. Bank stocks surged at the open but then came well off early highs. Facebook parent Meta Platforms flashed a buy signal, Boeing flirted with an entry while Fortinet is setting up. All are showing relative strength. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes started uncertain despite efforts to shore up concern from depositors at failed banks. While waiting for the dust to settle, it’s a good idea to keep watch lists fresh with stocks holding up well in the volatility. Long-term leader MSCI, and tech stocks Monolithic Power and Cadence Designs have relative strength and support going for them. Learn more about your ad choices. Visit...

The major indexes sold off sharply for the week, breaking through multiple support levels, first on Fed rate hike fears and then on banking woes. JPMorgan bounced on Friday, a positive sign, while Palo Alto Networks and Meta Platforms are holding near buy points. But investors should largely be in cash. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes applauded jobless claims early but fell below support levels as the day wore on. Financials were the hardest hit and dropped the S&P 500 and Nasdaq composite below key support levels. Still, there were some stocks holding up during the selling including Toro, GE and Iridium. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes showed indecisive trade a day after selling off on Fed chief Powell’s hawkish testimony Tuesday. The S&P 500 and Russell 2000 are right around their 50-day lines. Chip stocks were strong, with Monolithic Power setting up. Oracle is close to a buy point with earnings due. C3.ai fell solidly for a third straight session after skyrocking Friday. Learn more about your ad choices. Vis...

The major indexes fell sharply after Fed chief Jerome Powell signaled rates will go higher and faster than previously expected. The Nasdaq composite fell below its 21-day moving average while the S&P 500 tumbled through its 21-day and undercut its 50-day line. Delta Air Lines gained altitude and Canadian Solar held up on solid days for those sectors. But Freeport-McMoRan sold off as miners tumbled...

The major indexes started strong but finished weak ahead of two-day testimony by Fed chair Powell. The S&P 500 and Nasdaq composite remain above their 21-day moving average lines but the Dow Jones Industrial Average hit resistance at its 50-day line. But there were still pockets of strength including a move above resistance for Splunk, a flat-base breakout by MercadoLibre and a setup continuing fo...

The major indexes continued their rebound from Thursday morning, with the S&P 500, Nasdaq composite and Russell 2000 all reclaiming their 200-day line. A slew of leading stocks flashed buy signals amid dramatic market reversal. Solar IPO Nextracker blasted out of a base. Database software maker Alteryx flashed an early entry in strong volume. Caterpillar is actionable within its new base. Learn mo...

The S&P 500 and Nasdaq opened solidly lower as the 10-year Treasury yield raced above 4% on jobless claims and eurozone inflation data. But the major indexes rebounded from and above key levels. The Dow Jones led, fueled by Salesforce surging on earnings. Aehr Test Systems had a wild day on Tesla-related fears. Dexcom, which had its own existential threat last week, jumped near a buy area on posit...

The major indexes couldn’t hold early gains in the stock market today, which is yet another sign of weakness. Underneath the surface, several watchlist-worthy stocks are showing strength. First Solar surged on earnings, breaking out of a base. FCX moved higher on strong economic data out of China, retaking its 50-day line. Shift4 Payments added to its gains after moving above the 50-day line on st...

The market uptrend remains under pressure. Learn more about your ad choices. Visit megaphone.fm/adchoices

A strong start to the day didn’t hold and volume was lacking in winners. Learn more about your ad choices. Visit megaphone.fm/adchoices

Falling bond yields brought buyers in from the sidelines. Learn more about your ad choices. Visit megaphone.fm/adchoices