Dow futures contracts will open on Sunday evening, along with S&P 500 futures and Nasdaq futures. The price of Bitcoin rose to over $ 60,000 for the first time ever.
The stock market remains divided, but the rally is broadening exponentially, with more and more stocks erupting from a variety of sectors. The only notable exception is the Nasdaq and growth stocks, but even those stocks have had a positive initial week.
Delta Air Lines (From), Las Vegas Sands (LVS) And the Marriott International (March) Is among the many travel stocks that set bullish in similar patterns, with United Airlines (UAL) Already a new survey Point purchase.
Volkswagen (VWAGYA Power Day event to focus on battery will be held before the US market opens on Monday, similar to last year’s Tesla Battery Day. Volkswagen earnings are due out on Tuesday, while the ID.4 crossover will be launched in China and the US later this month. Volkswagen leads the responsibility for traditional automakers rushing to electric cars. All of this could put pressure on Tesla’s sales and prices, as well as Tesla shares. Volkswagen stock has surged in recent months, outpacing the rapid rally General Motors (GM) And the Ford Motor (F).
Bitcoin has a price of over $ 60,000
Bitcoin’s price continues to rise, reaching $ 60,415.34 on Saturday morning before drifting below $ 60,000. Bitcoin’s previous peak was just over $ 58,000 on February 21. Many financial institutions are popularizing Bitcoin as at least a digital asset, while Tesla buys $ 1.5 billion in Bitcoin and is one of many companies investing in cryptocurrency. Biden’s incentive of $ 1.9 trillion is seen to pour more money into bitcoin and financial markets in general.
S&P add-ons 500
finally, NXP Semiconductor (NXPI), Ben National Games (the pen), Generac Holdings (GNRC) And the Caesars Entertainment (CZR) To join the S&P 500 ahead of the March 22nd opening. Shares are up 3% -7% late Friday on the back of the S&P 500 news. NXP could provide a buying opportunity as it bounces off the 10-week streak, while Penn National, Genera and Caesars don’t look doable.
Dow Jones futures today
Dow Jones futures will open at 6 PM ET, along with S&P 500 futures and Nasdaq 100 futures.
The number of coronavirus cases worldwide has reached 119.76 million. The death toll from Covid-19 has surpassed 2.65 million.
The number of Coronavirus cases in the United States reached 29.99 million, with the number of deaths exceeding 545,000.
The stock market rises
The stock market rally has continued to consolidate and expand over the past several days, with the Dow Jones, S&P 500 and Russell 2000 indexes reaching all-time highs.
The Dow Jones Industrial Average rose 4.1% in the past week Stock market trading, Setting a record in the past four sessions. The S&P 500 advanced 2.6% while the Russell 2000 index gained 7.35%. The Nasdaq Composite Index rose 3.1%.
The 10-year Treasury yield jumped to its highest level in 13 months, up 10 basis points on Friday, to 1.63%.
between the The best ETFs, The Innovator IBD 50 ETF (fifty(Up 8% last week and The Innovator IBD Breakout Opportunities ETF)fitJumped 9.6%, both of which easily regained their 50 day streaks. IShares Technology and Software Expanded Fund (ETF)IGV(Up 2.7% and the VanEck Vectors Semiconductor ETF)SMHIt rose 0.9%. Both are less than 50 days’ streaks.
Reversing the stocks of more speculative stories, Ark Innovation ETF jumped 8.2% and Ark Genomics ETF 7.8%, but both are well below their 50 day lines.
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Volkswagen Power Day
Monday Volkswagen Power Day It’s Volkswagen’s realistic response to last year’s Tesla Battery Day, but without a year-long buildup. . It is expected to detail its battery and infrastructure strategy, and may demonstrate developments in packaging or cell technology.
On Tuesday, Volkswagen will release all-year figures.
Volkswagen’s stock rose 19% so far in March, marking its best level since 2009, as investors buy into its electric vehicle strategy. Shares of General Motors and Ford are up 15% this month. Volkswagen and Ford have been greatly extended. GM stock removed a messy consolidation on Friday, but at 15% above the 50-day line it appears to be stretching as well.
Tesla shares rose 2.7% in March and 16% last week. But it was hitting resistance at the 21-day exponential moving average and still well below the 50-day line. Many of the higher value growth stocks look similar to the TSLA stock chart.
Stock market analysis
The stock market continues to split with the Dow Jones, S&P 500 and Russell 2000 indices at new highs while the Nasdaq is just below the 50-day line.
The economic reopening plays are doing well, including mining, manufacturing, travel, transportation, various retailers, and more.
No wonder. In about a year, the US economy will turn from a massive recession to a massive economic boom. Coronavirus restrictions are diminishing as vaccinations increase and cases decline, fueling a return to normal activity, including prolonged inactive travel. Meanwhile, Biden’s $ 1.9 trillion incentive just passed $ 1,400 checks to most Americans, after weeks of a more modest aid package for Covid with $ 600 in checks. The White House and Democrats in Congress are putting their sights on a bigger spending bill later this year, with trillions of dollars in infrastructure.
Just to highlight the travel inventory, Trip.com (TCOM) Transcend prof Three tight weeks Friday. The tightness of the three weeks is slightly higher than the previous rule, so it provided the opportunity for investors to add stocks or start a new position in TCOM stocks. The united arrow peered from a similarly short – albeit not a narrow pattern – a feathered knit slightly higher than the base.
Delta Stock, Marriott, Hilton (LDS) And the Life (H) In their shelves. So is the Las Vegas Sands stock, which is running over a tight three week and appears to be chaotic on the daily chart but is very tight on the weekly.
The Nasdaq is lagging, but not losing
The Nasdaq made strong gains last week, closing near the highest level of its weekly range after it began declining 2.4% on Monday. On Friday, the Nasdaq index fell again below 50 days as Treasury yields rose. But it held up relatively well, closing just 0.6% lower on Friday, at session highs.
The Nasdaq has yet to confirm that its bullish attempt has legs and remains vulnerable to soaring Treasury yields. Nasdaq Follow-up day That should ease concerns that tech stocks will drag the wider market down, as they did earlier in March
But even if the Nasdaq does rebound, the growth names still appear to be battered. The immediate rush to new highs in Tesla stocks or other high-value names will not seem natural. Also, remember that Tesla and a lot of these stocks went amazingly long last year. Therefore, there are several reasons why they may need weeks or months to set up again in proper bases.
The surge in Bitcoin and other cryptocurrencies indicates that speculative assets are still desirable, so higher-value growth names may have another path. But even Bitcoin slumped to major technical levels, consolidating for a few weeks before rising again.
what should be done
The good news about the divided market is that while the growth stocks are in infected reserves, many of the economic recovery stocks are exploding and making solid gains.
So investors don’t have to sit on the sidelines. While SLIM investors can gravitate toward emerging stocks for obvious reasons, many of the “model book” winners throughout have been transformation plays. You have to be flexible, and be aware of the stocks that are working and not working.
Look for stocks with strong relative strength. Pay close attention to those with strong earnings estimates and those who are set in sound rules.
If you are not comfortable buying non-developing stocks, you can buy ETFs like SPY or IWM or various sector plays like XME (Mining), JETS (Airlines) or XHB (Home Builders). And you can always stay cash until technology stocks really recover.
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