The Dow Jones futures fell slightly late on Wednesday, with S&P 500 futures and Nasdaq futures falling calmly on Wednesday as the Nasdaq plunged to its lowest level. But the stock market rally is not “totally dead”.
For real economic stocks, Wednesday was either normal or positive. Boeing (B.Sc.), Citigroup (C), Flag Star Ban Corp (FBC) and have (AVNT) Clear purchase points or items first.
The stock sell-off continues to grow, with the Nasdaq cut its lowest price on Feb. 23 playing at home. Amazon.com (AMZN), Video zoom (ZM), Teladoc health (TDOC), Datadog (DDOG) and 2U Inc. (TWOU) are all below long-term support. Tesla (TSLA) retreated to 2021, closing low as Nvidia (NVDA), year (ROKU) and service (Now) decisively falling 10 weeks below the line.
Marvell technology (MRVL), Snow flakes (snow), Okita (OKTA) and Splunk (SPLK) headlines late on Wednesday. But all of these tech stocks collapsed or split as quarterly results fell sharply on Wednesday.
Marvell’s revenue is aligned and approaches are mixed.Snowflake reported strong revenue growth, while Okta and Splunk had views.Okta shares tumbled overnight on a $ 6.5 billion acquisition, Marvell tumbled. While SNOW stocks were up slightly, Splunk shares, which stood at a 10-month low, gained firmly.
Tesla and Nvidia stocks are in the IBD Leaderboard, ServiceNow’s stock is on the long-term list of IBD leaders.Tesla and Nvidia’s shares are at IBD 50.
Dow Jones Futures today
The Dow Jones Futures were down 0.3% to fair value, the S&P 500 futures retreated 0.4% and the Nasdaq 100 futures were down 0.6%.
Keep in mind that overnight execution on the Dow futures and elsewhere does not necessarily translate into actual trading during the next normal stock market session.
Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live.
News about the coronavirus
As many as 115.76 million coronavirus cases worldwide, 2.57 million deaths from COVID-19.
Coronavirus cases in the United States hit 29.45 million, with more than 531,000 deaths.
Stock market rally on Wednesday
The stock market rally sold off at the lowest level of the session. Real economy names are held as the tech giants retreat and sell speculative names.
The Dow Jones Industrial Average fell 0.4 percent in stock market trading on Wednesday after being slightly positive for most of the session. Boeing stocks are the Dow’s top winners, but An apple (AAPL) and Microsoft (MSFT) Weighed on the blue-chip, the S&P 500 fell 1.3%, coming back below the 21-day line, but holding it above 50 days.The Nasdaq composite fell 2.7%, hit the 50-day line and cut its lowest on Feb. 23.
The 10-year bond yield rose 6 basis points to 1.47% after pulling back in recent days. A strong uptrend in long-term bond yields has put pressure on the stock market, especially speculative growth.
Among the best ETFs, the Innovator IBD 50 ETF (FFTY) jumped 3.5%, while the Innovator IBD Breakout Opportunities ETF (BOUT) fell 3.25% .The iShares Expanded Tech-Software Sector ETF (IGV) backed 4.1% with Zoom. Video, and now the dominant component in VanEck Vectors Semiconductor ETF (SMH) stock is missing 3.15%, NVDA shares are the top SMH stocks.
Reflecting on more speculative stocks, the Ark Innovation ETF (ARKK) slipped 5.9% and the Ark Genomic Revolution ETF (ARKG) was 6.3%. Both cut their latest lows, with ARKK closing below.
Tesla is the top shareholder in Ark Investment’s ETFs, including ARKK.Teladoc and Roku stocks are also the top five Ark holders, while Ark buys a large portion of Zoom shares on Tuesday.Ak also has several smaller stakes. With little liquidity These are going to be tough to get out of, especially when Ark Invest reveals a huge amount of daily buy and sell.
Boeing stocks broke short.
Giant dow Boeing (BA) rose 2.4 percent to 228.56 Intraday shares hit 235.40, breaking a buy point of 229.71 cup-with-handle. In the weekly chart Citigroup shares rose 3 percent to 70.38 points to buy their 69.52 cup base, according to marketSmith analysis, but Citi’s breakout came weeks later. Goldman Sachs (GS), JP Morgan Chase (JPM) and even Wells Fargo (WFC).
Avient shares jump 5%, break through the cup base by huge volumes. Flagstar shares were up 3%, bouncing from the 10-week line as they formed the right-hand side of the FBC flat to Wednesday’s IBD Stock Of The Day.
Amazon, Zoom Video Break 200 Days
Amazon, Zoom Video, Teladoc, Datadog and TWOU stocks fell below the 200-day moving average.AMZN shares were down 2.9 percent, while the other four retreated 3.75% -9.5% for Zoom and Datadog stocks, marking the closing times. First less than 200 days
Amazon stock is one of the trillions of dollars in companies.
Zooming stocks might be the best coronavirus play out, although Amazon and Teladoc are growing rapidly in the epidemic with cloud-based Datadog and 2U as vaccination increases and Covid restrictions are easier, investors are. Betting on big-value home companies will see slower growth.
Teladoc, Datadog and 2U stocks hit new highs a few weeks ago.
Tesla shares were down 4.8 percent to 653.20, their lowest close since Dec. 23, but higher than last week’s intraday low of 619.Roku shares were down 5.2 percent, Nvidia 4.5 percent and ServiceNow 6.1 percent.
Stock market rally ‘Mostly dead’
Is this a severe stock market turnover from growth or the beginning of a technology-based market correction? Taking a strictly look at the Nasdaq and tech leaders, it looks like the stock market is correcting. But the Dow and the cyclical group rose well, while the S&P 500 remained hardly above the 50-day line.
The rise of the market may “Mostly dead” to refer to Miracle Max from “Princess Bride,” but that’s still “a little alive”. But where can Miracle Max revive the rally? At this point, any other weaknesses would likely drive the rally. “Most of the dead” became “all dead”. On the other hand, it took a lot of time to bring the market assembly back to life, just like Princess Bride’s Wesley.
This is an important day to read The Big Picture in keeping with the market trends and leading stocks and sectors.
One thing is certain: growth, especially speculative growth, is not desirable. Stocks may bounce back quickly or weeks or months from now, while some stocks may not bounce back.
Don’t focus on 2020 winners like Zoom stock or Datadog if they’re not performing well right now.
I’m glad we paid attention to last year’s leader last year. This year I think we should focus on this year’s leaders. What do you think?
– JC Parets (@allstarcharts) March 3, 2021
Investors should take a defense stance, at least with the technology name. If your stock is losing, then you are out of alignment with the market or the market itself is not. Consider moving to more mining, industrial, agricultural and financial stocks. But if the entire market has a decisive turnaround, the latest relevant winner is also likely to crash.
Cash is essential to fixing and holding many in today’s market climate is a smart choice.
Please follow Ed Carson on Twitter @IBD_ECarson for stock market updates and more.
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