Home Investing Dow Jones Futures: Market Rally Faces Key Resistance; Time To Buy Apple Stock — Or Short?

Dow Jones Futures: Market Rally Faces Key Resistance; Time To Buy Apple Stock — Or Short?

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Dow Jones futures open Sunday night, along with S&P 500 futures and Nasdaq futures. Last week’s rally in the stock market maintained support levels. Could the S&P 500 break above the 200-day moving average in the coming days and weeks? apple (AAPL) may be the key.


Apple’s stock remained at key levels, rising modestly despite a general market pullback. Similar to the S&P 500, the iPhone tech giant is heading back towards his 200-day line. A decisive move above that level could offer a buying opportunity. But another rejection could offer another opportunity to short AAPL shares.

Meanwhile, fellow Dow Jones components Boeing (Bachelor), JP Morgan Chase (JPM) and GS stocks have quietly continued their significant gains over the past few weeks, contributing to the Dow’s outperformance in the current market rally. Technically, BA stock is very close to the traditional buy point. goldman sachs (GS) is laying deep ground, but JPM stock still has work to do.

dow jones futures today

Dow Jones futures open Sunday at 6:00 pm ET, along with S&P 500 and Nasdaq 100 futures.

remember the night action dow futures Elsewhere, it doesn’t necessarily translate into the next regular real deal stock market session.

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stock market rally analysis

Last week, the Dow Jones Industrial Average was up less than 0.1%. stock market tradingThe S&P 500 Index fell 0.7% and the Nasdaq Composite Index fell 1.5%. Small cap Russell 2000 gave up 1.75%.

On Tuesday, November 15th, the S&P 500 briefly crossed 4,000 and approached its 200-day moving average. This level is particularly important as the benchmark index retreated just one point from his 200-day line on August 16th.

A decisive move above the 200-day line would also be closely aligned with the downtrend line from the all-time high on January 4, providing a strong signal that the uptrend is more than a bear market rally. prize.

The S&P 500 clearing the 200-day line will also provide a positive backdrop for major stocks struggling near the buy point in a volatile market.

Meanwhile, the Russell 2000 fell below the 200-day line last week, but may regain that level before the S&P 500. However, clearing last week’s high would put the Dow back at 34,000, just below its August peak.

Depressed by aggressive growth, the Nasdaq is 8.3% below the 200-day line. A breakout of last week’s highs would be a good start. Also positive: the 21-day moving average edged slightly above the 50-day line on Friday.

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Thanksgiving week isn’t necessarily the best time for big market moves. The market closes on Thanksgiving and has a half-day session on Fridays. Volume may be low throughout the week. The next week ends with a bang. On December 1, investors will get his PCE inflation data for September and his ISM manufacturing index for October. On December 2nd he will file his October employment report. This news could have a big impact on Fed rate hike expectations, bond yields and stock prices.

So, it wouldn’t be surprising if the major indices traded within a range over the next week or so. A little consolidation of major indices and major stocks is fine.

apple stock

Apple’s stock rose 1.1% last week to 151.29, following the week’s surge of 8.2%. The stock is holding his 50-day moving average line and the 21-day line is about to overtake his 50-day line. AAPL’s stock is just below the 200-day line. The Dow giant flirted with his 200th day on October 28 following earnings. But it turned out to be a golden opportunity for a short sale, and the stock fell in a matter of days to its worst closing price since mid-June.

Perhaps a decisive move above the 200-day line clearing the October 28th high of 157.50 would provide an early entry into the bottom base starting August 17th. short chance.

The success or failure of Apple’s 200-day line could be key to the S&P 500’s own attempts, and vice versa.

boeing stocks

BA shares fell 2% to 173.89 after gaining 47% in five weeks. Aerospace giant Dow Jones fell on his Oct. 26 earnings, but stocks rebounded, especially on his bullish cash flow guidance days later.

Technically, Boeing shares are just below the 173.95 cup base point of purchaseHowever, the stock is 9.5% above the 200-day line and 19.5% above the 50-day line. A pause near current levels could create a safer buying opportunity.

Boeing is expected to turn profitable in 2023, ending four years of losses.

goldman stock

GS shares fell 1.55% last week to 379.20. On the daily chart, the share has grown from 358.72. cup base Buy points within a much larger integration. On the weekly chart, Goldman stock has a buy point of 389.68 in his one year period. cup with handle base, according to marketsmith analysisBut after a four-week streak of 28% gains, the handles are very small. A longer, deeper handle helps, and a 50-day line fills the gap.

of relative lines of force A four-year high, reflecting Goldman’s stock’s outperformance against the S&P 500. The RS line is the blue line on the provided chart.

JPM Stock

JP Morgan shares fell 1.1% to 133.84 last week. This is after six weeks he was up 29.5%. The stock is above the he 50 day line and he’s above the 200 day line, but there’s still work to be done. JPM stock could build a long-term deep consolidation right side or form a bottom.

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