Home Markets Market Rally Ends Losing Streak, Nvidia Jumps; 5 Stocks Near Buy Points

Market Rally Ends Losing Streak, Nvidia Jumps; 5 Stocks Near Buy Points

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Dow Jones futures edged higher in long-term trading, along with S&P 500 futures and Nasdaq futures. Lululemon, Costco and Broadcom reported earnings after the close.




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Stock market gains recovered modestly on Thursday, but recovered only a fraction of the losses suffered over the past few days.Amid choppy market action, investors should remain cautious. The S&P 500 remains below his 200-day line and most indices have reached resistance at his 21-day moving average.

Semiconductor stocks perform well with chip makers NVIDIA (NVDA) is one of the top performers in the S&P 500 on Thursday. But chip equipment makers are generally in better shape. KLA Corporation (crack), Axcelis Technologies (ACLs) When ultra clean holdings (UCTT) buy signal flashes on Thursday. ASML (ASML) When Applied Materials (AMAT) nearby buy points.

Main income

costco wholesale (price), lululemon athletica (Lulu) When broadcom (AVGO) reported late Thursday.

After Costco’s earnings and sales missed view, COST’s inventory barely changed overnight. Costco’s stock fell slightly in Thursday’s regular session, but he’s down nearly 11% so far this month.

LULU shares fell in long-term trading after the yoga apparel retailer fell slightly heading into the crucial holiday quarter. Lululemon’s revenue slightly exceeded its views in Q3. Lululemon’s shares rose 0.6% to 374.11 on Thursday, closing in the buy point range of the 370.56-handled cup. However, it is set to fall out of its buy territory.

AVGO’s stock rose slightly after hours as Broadcom’s earnings and guidance outperformed View, and the chip and software giant also raised its dividend. Broadcom’s stock rose his 2.4% to close at 531.08, just below the 200-day line. Last week’s high of 552.42 could offer some entry.

LULU In stock IBD leaderboard As an earning option play. KLAC In stock Long-term leader in IBD.

dow jones futures today

Dow Jones futures rose 0.1% to fair value. S&P 500 futures were up 0.15% and Nasdaq 100 futures were up 0.2%.

The 10-year Treasury yield fell two basis points to 3.47%.

Crude oil futures rose 1%.

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

The stock market rally was a solid session, with the index largely flattening out after the first hour of trading.

The Dow Jones Industrial Average rose 0.55% on Thursday. stock market tradingThe S&P 500 Index was up 0.75%. The Nasdaq Composite rose 1.1%. The small-cap Russell 2000 rose 0.7%.

US oil prices fell 0.8% to $71.46 a barrel, a large intraday volatility.Crude futures are now at levels that suggested the Biden administration would replenish its strategic oil reserves

The 10-year Treasury yield rose 8 basis points to 3.49%, a day after plunging to 3.41% on Wednesday.

ETFs

Among growth ETFs, iShares Expanded Tech-Software Sector ETF (IGV) increased by 1.8%. VanEck Vectors Semiconductor ETF (SMH) Pop 2.55%. Nvidia shares, ASML, KLA and AMAT are all holdings of SMH. Reflecting more speculative story stocks, the ARK Innovation ETF (arc) rose 2.4%, while the ARK Genomics ETF (ARKG) 2.2%.

SPDR S&P Metals & Mining ETF (XME) rose 0.3%, while the Global X US Infrastructure Development ETF (pave) increased by 0.8%. US Global Jets ETF (jet) 0.3% immersion. SPDR S&P Homebuilders ETF (XHB) rose 0.6%. Energy Select SPDR ETF (XLE) and the Financial Select SPDR ETF (XLF) was 0.1% higher. Healthcare Select Sector SPDR Fund (XLV) increased by 0.9%.


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Chip Stocks Close to Buy Point

Several chipgear manufacturers are in or near the buying zone. Semiconductor equipment makers generally have somewhat bleak forecasts for the year ahead, but Chipgear’s stock often bottoms out well before the economy picks up.

KLAC shares rose 2% to 395.92, clearing the buy point between 392.60 and 396.02.Volume was very low, but there were many big gains in the volume spike as the KLA bounced back from the bear market lows of October and November. relative lines of force Stocks hit all-time highs despite being well away from their January peak. KLA stock is a long-term leader, but the best time to buy stock as an LTL is when it approaches the 200-day or 50-day line.

ACLS stock rose 4.9% to 81.93, above the buy point of 80.34 for cups with handles. marketsmith analysisAxcelis has stretched well from the 50-day line, but the 21-day line is racing higher. ACLS stock’s RS line is at a 15-year high.

UCTT shares rose 5.6% to 36.59, breaking above 36.10. cup with handle I bought points and reached my highest level since April. A trough was formed and there was no previous uptrend. But the handle mostly formed above the 200-day line, with UCTT shares’ RS line hitting his eight-month high.

ASML stock was up 0.9% at 606.89. The stock surged from its bear market low on Oct. 13 to Nov. 15. Since then, the Dutch high-end semiconductor equipment giant has continued to consolidate well above the 200-day line, its highest level since April. The 21st line is likely to catch up. A breakout above recent highs could indicate early entrants. Ideally, ASML will bounce back from his 21-day line or form a suitable base.

AMAT shares rose 2.4% to 108.61 on Thursday. The stock is just above his 200-day line from October 13th to November 13th. 15 runs. Applied Materials 3 weeks tight Pattern, offering a bye point of 112.22. Investors can use a short trendline, perhaps with Thursday’s high of 109.43 as a trigger and a short entry.

Meanwhile, chip giant Nvidia rose 6.5% to 171.69, rebounding from the 21st line. NVDA’s share price is currently just below the 200-day line. Aggressive traders can use the decisive clearing of the 200-day line as a buy signal. But it might be better to wait for Nvidia’s stock price to clear his 200 days and form some kind of integration like ASML and AMAT to spy on safer entries.

Market rally analysis

Stock market gains have reversed a recent losing streak from slight to strong. But it didn’t fundamentally change the technical picture. Key indices are moving sideways, finding support at key levels but also resistance.

The S&P 500 Index has broken above its 21-day moving average. The benchmark index should be above the 200-day moving average and December 1st high.

The Nasdaq Composite held support at the 50-day moving average and regained the 11,000 level, but closed less than 21 days later. The Russell 2000 has retreated from the 21-day line, although earlier this week he fell below the 200-day line and his 21-day line.

The Dow Jones, which closed just above its 21-day average on Wednesday, rebounded slightly on Thursday.

Even when important news comes, the market may not make a decisive move.

The Producer Price Index for November is due to be released on Friday morning. Wholesale inflation should continue to moderate steadily. But the real concern is the service price. His November CPI report is due on his December 13th, and his year-end Fed meeting ends the next day.

These events can be catalysts for large market ups and downs. Of course, over the past month the index has had some big moves around his CPI in October and his Fed Chair Powell speech, etc., but the sideways and choppy movements continued.


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what to do now

KLAC, ACLS, united rentals (URIs) When Dexcom (DXCM). Investors could have nibbled on some of these, but they may not.

Overall exposure should be kept low. Current market dynamics are flat and choppy. This is a tough environment to do forward trading. If you made a good profit on your new purchase, consider taking a partial profit immediately. Too many promising stocks have seen repeat gains of 5% to 10% over the past few weeks.

A large number of stocks in various sectors are set. So keep your watchlist up to date and stay engaged.

read big picture Every day to stay in sync with market direction and major stocks and sectors.

Follow Ed Carson on Twitter. @IBD_E Carson Stock market updates and more.

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