It was a wild day for the stock market rally, at least on the Nasdaq and especially on the Tesla stock and China EV. Neo (NIO). The Nasdaq fell more than 3% intraday, but rallied again for a small loss. Bitcoin prices fell for the second straight session.
Square stock fell 5% late. SQ stock fell 4.3% after recovering from its 50-day line on Tuesday. After a sharp rally from key levels on Tuesday, Upwork stock rose 18% and PubMed 10% overnight. UPWK reached its highest level of recovery from its 50-day queue. PUBM was closed for moderate losses, but after falling below the point of purchase, it was very difficult to keep up.
The Nasdaq seemed to glow Vertical violation Because of its rapid decline in its 50 day line. But a strong recovery to moderate losses clarifies the market direction. The Dow Jones and S&P 500 have wiped out relatively modest losses. The stock market rally may simply be a sector cycle, with rising yields and commodity prices triggering a shift to mining, agriculture and financial stocks.
Dow Jones Elements Caterpillar (Kate), Disney (D.I.S.) And J.P. Morgan Chase (J.P.M.) Advanced, all extended from recent breakouts. Microsoft (MSFT) Closed on the low edge but recovered above its 10 week high and closed above its 232.96 Buy point.
Bitcoin prices fell above $ 58,000 on Tuesday and $ 45,000 on Tuesday. Over 000 48,000 cryptocurrencies were recovered overnight. Bitcoin is above where it was before the market opened on February 8, when it was revealed that Tesla had bought $ 1.5 billion worth of cryptocurrency.
Tesla restart, labor accidents
Shares of Tesla fell 2% to 698.84 on Tuesday, but fell to 619. Shares have fallen nearly 11% so far this week, falling 11% below the 10-week line. TSLA stock soared overnight as ARK Invest’s Kathy Wood bought ARK “a lot” on Tuesday. This follows a major arch buy of Tesla shares on Monday and Wood talking about the company last week.
Tesla is ARK’s largest presence in its ETFs and in many ways a reference to the speculative development plays that Kathy Wood focuses on.
Neo shares fell 3.1% to 49.11 after falling to 41.66. The stock fell 7.8% on Monday, hitting its 50-day high. Neo stock soared overnight. Neo revenue is due on March 1st.
But some E.V. The stocks were very bad. EV Delivery Van Manufacturer Labor Committee (WKHS) Lost a large USB vehicle contract Oshkosh Corp. (OSH) WKHS share 47%, then fell sharply overnight. Oshkosh shares rose 6.1% on Tuesday, then rose in extended trading.
Church capital (CCIV) 38% disabled. Luxury EV startup Lucid Motors confirmed it would go public in an SPAC merger with Churchill Capital late Monday. CCIV stock has risen 468% since January 8 as clear SPAC rumors have increased. Churchill’s capital soared overnight.
The future of Dow Jones today
The Dow Jones futures fell a fair value against 0.1%. The S&P 500 futures were down 0.2% and the Nasdaq 100 futures were down 0.25%.
Corona Virus News
Worldwide, corona virus cases reached 112.62 million. Covit-19 deaths are 2.49 million.
Corona virus cases in the United States have reached 28.89 million, with more than 514,000 deaths.
Stock market rally on Tuesday
The stock market rally on Tuesday led to severe losses for the Nasdaq. As Federalist President Jerome Powell spoke, key codes caused losses. Powell said there is a link between central bank liquidity and property prices. But he reaffirmed his commitment to the current aggressive monetary policy, emphasizing that strong job growth is a primary goal. Powell said the central bank was closely monitoring the issuance of the “digital dollar” but not significant technical and policy issues.
The Dow Jones Industrial Average was just over a fraction on Tuesday Stock market trading, Below the registration maximum. The S&P 500 index is up 0.1%. The Nasdaq composite fell 0.5%.
Shares of Microsoft hit a 10-week low of 228.73 intraday, but not as wildly as many stocks on Tuesday, including Square. The shares never reduced their initial entries within 227-228. In the end, the MSFT stock lost 0.5% to 233.27, up from the official 232.96. Buy point.
Growth stocks typically lost ground even with large afternoon regenerations.
In the middle Best ETFs, Inventor IPD 50 ETF (FFTY) Fell 2%, while inventor IPD Breakout Opportunities ETF (BOUT) Fell 2.1%. Eyeshare Extended Technology-Software Sector ETF (IGV) 1.1% retreat, the first component of the MSFD stock. Vanic Vectors Semiconductor ETF (SMH) Fell 1%.
Reflecting further consolidated story stocks, Arc Innovative ETF fell 3.3% and Arc Genomics ETF fell 3.05%.
Stock market analysis
The Nasdaq fell above January 29 and moved further down before the 13,000 level then returned to a break.
We need to see how the market works over the next few days to put the action forward on Tuesday.
Perhaps Tuesday marks the start of a recovery for big winners like the Nasdaq and Tesla and Neo stock. But sometimes a stock market rally will find support and then break it. That’s what happened in early September sales, where Nasdaq cut losses on the second day of a drag, before closing below its 50-day line on the third day.
In many ways it looks like a sharp sector cycle in the market rally as the Dow Jones is sustained as real economic stocks thrive.
For now, it remains a confirmed stock market rally. This is a good day to read The big picture Stay in line with market direction and leading stocks and sectors.
What to do now
Investors need to be somewhat defensive, especially when it comes to high-value growth stocks. The Nasdaq has been low in the last several sessions. Meanwhile, many growth stocks have had damaged appearances over the past two days. Even before the recent retreat, there were a lot of good buying opportunities.
One reason for the partial profit when the Nasdaq was extended in late January to early February was the ease of handling bullpacks. Strong selling of extended stocks can help maintain a key position through bullbacks. If you sold some winners at a lower price on Tuesday, those initial part gains would have at least raised the average selling price.
Do not allow a stock to fall below 7% -8% of your purchase price. Yes, if you happen to sell at a low price on Tuesday, you may regret it, at least for now, but the point is that it protects your capital and there is no hope of redemption.
In the meantime, make sure you keep track of the miles you have and if and when they expire. The last several sessions have shown the value of diversifying leadership. Having some names like Disney would have caused less pain over the last few days.
Follow Ed Carson on Twitter @IBD_ECarson For stock market updates and more.
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