Dow Jones futures were higher, while S&P 500 futures and Nasdaq 100 futures turned lower ahead of the stock market, which opened on Monday as Bitcoin briefly jumped above $ 61,000 to reach all-time highs. The Tesla stock would open lower on Monday.
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Among the Dow Jones leaders, appeal (AAPL) gained 0.5% ahead of the market on Monday, while Microsoft (MSFT) rose 0.3% in the current stock market. Nike (NKE) is approaching a new buying point after strongly regaining its 10-week line last week.
Tesla (TSLA) fell 0.6% ahead of the market on Monday, and wanted to contribute to the loss of Friday by 0.8%.
Among the top stocks to watch, Arcelor Mittal (MT), Hain Celestial (HAIN) and Regal Beloit (RBC) is in the buying range in the new stock market.
Arcelor Mittal, Microsoft and Tesla are IBD Leaderboard shares. Hain Celestial and Regal Beloit were IBD shares of the day recently.
Dow Jones Futures
Before the stock market opened on Monday, Dow Jones futures rose 0.2%, while S&P 500 futures fell less than 0.1% to fair value. Nasdaq 100 futures fell 0.1% to fair value. Remember that trading Dow Jones futures and elsewhere does not necessarily actually trade in the next regular stock market session.
Ten-year treasury yields fell lower to 1.63%, after Friday’s rise.
Among the exchange-traded funds, the Innovator IBD 50 (FFTY) fell 0.25% on Friday. The Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) fell 0.8%. Meanwhile, the SPDR S&P 500 ETF (SPY) rose 0.1% on Friday.
Stock market rally
Amid a new upswing in the stock market, the Dow Jones Industrial Average and S&P 500 peaked last week. Meanwhile, the tech-heavy Nasdaq remains below its 50-day moving average line and about 6% off its everyday highs.
IBD’s market outlook was upgraded to ‘confirmed rise’ on March 10, as the Dow Jones industrial average hit new highs.
Friday’s big picture said: “Avoid the pitfall of staying married to the great leaders of 2020. While growth stocks will have their day in the sun again, many former leaders will not necessarily be leaders if the growth stocks start to contract again. New leadership emerged from various subgroups and sectors, including financial, oil and gas, construction, mining, steel, chemical, fertilizer and travel supplies. ‘
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Bitcoin price
Bitcoin briefly reached $ 61,000 over the weekend to reach an all-time high before turning lower. The price of Bitcoin traded around $ 55,300 early in the morning, according to CoinDesk.
The price of Bitcoin peaked on March 13 and was $ 61,556.
The Grayscale Bitcoin Trust (GBTC) ETF rose more than 14% last week, climbing further from its 10-week line.
Dow Jones shares: Nike
Within the Dow Jones industrial average, Nike shares are closer to a 148.05 flat on a flat basis, according to the IBD MarketSmith chart analysis.
Shares are down about 5% from their buying point amid the 5.3% advance last week.
Shares to watch: Arcelor, Hain, Regal
IBD Leaderboard shares Arcelor Mittal ended Friday in the 5% buying zone after a buyout of 25.86 in a cup base. Shares broke out Thursday.
According to the Leaderboard comment: “The stock has also moved past a handle entry, but that entry point of 25.19 is only visible on a weekly chart. The RS line has been reaching new highs since the cup began to form,” a good sign. “
Hain Celestial is within striking distance of a 45.52 buy point in a flat base, according to IBD MarketSmith chart analysis. Shares ended about 3% of the subscription on Friday.
According to IBD Stock Checkup, HAIN shares show a moderate 73 out of a perfect 99 IBD Composite Rating. The IBD Composite Rating helps investors measure the quality of the fundamentals and technical benchmarks of a stock.
Regal Beloit, Thursday’s IBD stock of the day, closed Friday in a buying range past a 147.07 buy point in a cup base.
The relative strength line, which follows the performance against the S&P 500 index, is 52 weeks high. The RS line reaching a new high before or when a stock breaks out is particularly positive. IBD MarketSmith marks such stocks with a blue dot at the end of the RS line on a daily or weekly chart.
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Tesla Stock
Tesla shares wanted to contribute to the loss of almost 1% on Friday, which fell 0.6% ahead of the market on Monday. Shares may form a new base, but it is too early to identify a new entry.
On February 22, the leader for electric cars broke through its key ten-week moving average line, a critical support level.
On January 25, Tesla shares reached a record high of 900.40, after climbing to 93% from a 466 buy point in a cup with handle. Shares are about 23% lower than the everyday high and are still below their ten-week line.
Dow Jones Leaders: Apple, Microsoft
Among the top Dow Jones shares, Apple gained 0.5% ahead of the market on Monday after Friday’s 0.8% drop. Apple stock remains below its 10-week line, but a strong setback above the level will be positive for the stock’s outlook. For now, the stock is finding support around its long-term 40-week line.
On February 18, Apple shares implemented the 7% -8% loss-cutting selling rule when it fell more than 7% below its 138.89 buy point in a handle with a handle.
Meanwhile, Microsoft rose 0.3% ahead of the market on Monday, against a setback of Friday’s drop of 0.6%. The stock is higher than its 232.96 buying point and within the buying range.
Follow Scott Lehtonen on Twitter @IBD_SLehtonen for more information on growth stocks and the Dow Jones industrial average.
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