The Dow Jones industrial average briefly reversed on Tuesday as Bitcoin exceeded $ 50,000. The hot IPO stock Palantir Technologies fell on earnings, while Tesla shares wanted to bounce back from a key support level.
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Among the Dow Jones leaders, appeal (AAPL) decreased by 1.3%, while Microsoft (MSFT) eased the current stock market by 0.3%. Nike (NKE) approaches a new buying point.
Tesla (TSLA) wanted to win on Tuesday, slipping more than 2% into afternoon trading. Palantir Technologies (PLTR) fell to 10% on earnings before the stock market opened.
Advanced micro Devices (AMD), Nvidia (NVDA) and Handelsbank (TTD) is one of the leading stocks in or near the buying zones in Tuesday’s stock market action.
Apple, Microsoft, Palantir and Tesla are IBD Leaderboard shares. Nvidia was a recent IBD Stock Of The Day. Meanwhile, Nike was in the Stocks Near A Buy Zone column last week.
Dow Jones Today
On Tuesday, the Dow Jones Industrial Average fell briefly before rising again, while the S&P 500 fell 0.1%. The technology-heavy Nasdaq compound reversed 0.3% lower in afternoon trading.
US stock market overview today |
||||
|---|---|---|---|---|
| Index | Symbol | Price | Profit / loss | % Change |
| Dow jones | (0DJIA) | 31601.59 | +143.19 | +0.46 |
| S&P 500 | (0S & P5) | 3949,72 | +14.89 | +0.38 |
| Nasdaq | (0NDQC) | 14164.92 | +69.45 | +0.49 |
| Russell 2000 | (IWM) | 228.83 | +1.57 | +0.69 |
| IBD 50 | (FFTY) | 49.48 | +0.29 | +0.59 |
Last updated: 10:36 ET 2/16/2021 |
||||
Among exchange-traded funds, Innovator IBD 50 (FFTY) rose 0.1% on Tuesday. Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) rose 0.2%. Meanwhile, the SPDR S&P 500 ETF (SPY) added 0.1%.
Stock market rally
Looking back at the current rise, November was an important month for the stock market. IBD’s The Big Picture pointed the new uptrend to the bullish follow – up day of the market on 4 November. Meanwhile, the Dow Jones Industrial Average, Nasdaq and S&P 500 reached a record high.
As Dow transport rose last week, Friday’s Big Picture said: ‘Many market veterans like to see this market sector rise along with the Dow and other key indices. It indicates growing confidence that the economy is picking up steam. ‘
Due to the recent strength, investors may return to a breach, with the understanding that there are still good reasons for caution. Look for stocks that are breaking out above new buying points, such as Nvidia.
Focus on stocks that have shown strong relative strength during the recent weakness. They can be some of the leaders of the market if the indices are able to continue their record methods.
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Bitcoin price
The price of Bitcoin rose by more than 3% on Tuesday morning to overall highs. Bitcoin, according to Coindesk, reached as high as $ 50,584 before rising to $ 49,400 in morning trading.
The Grayscale Bitcoin Trust (GBTC) has risen 4% and is at a new high.
Dow Jones shares: Nike
Within the Dow Jones industrial average, Nike is down about 4% from a 148.05 buying point in a new flat base, according to IBD MarketSmith’s chart analysis. Shares fell 0.5% on Tuesday morning.
Nike got its 50-day moving average line strong again in recent sessions.
Palantir earnings
Early Tuesday, the hot IPO stock Palantir Technologies reported strong Q4 results, but the 2021 revenue lead came slightly below expectations.
The shares in Palantir dipped more than 10% in the morning trading before suffering losses. It is testing its 50-day support level.
Shares to watch: AMD, Nvidia, Trade Desk
Top chip stock Advanced Micro Devices approaches a buying point of 99.33 in a flat base. Shares fell more than 1% on Tuesday, threatening a three-day victory.
IBD Leaderboard shares Nvidia is in the 5% buying zone past a fixed base’s 587.76 buying point amid a 1% rise on Tuesday. On February 8, shares broke above an early entry at 560.07.
According to Leaderboard’s comments, “Nvidia is breaking out of a flat base and is within buying range. With this move, investors can add their position or make an initial purchase.”
Trade Desk builds the right side of a cup base, showing a buying point of 972.90. Look out for the formation of a handle and provide a more optimal access to the risk. Shares rose 1.2% on Tuesday morning.
A potential flaw is the relative strength of the stock. It remains relatively far from its old highs, indicating recent underperformance in the stock market.
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Tesla Stock
Tesla’s share wanted a two-day victory on Tuesday, dropping by more than 2%. On Friday, the stock almost dropped to the moving average line of ten weeks before turning higher. A strong move from this important support level will indicate a new buying area.
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.
Dow Jones Leaders: Apple, Microsoft
Among the top Dow Jones shares, Apple fell 1.3% on Tuesday and remains below its 138.89 buying point in a handle with a handle. Shares resigned on January 28.
Meanwhile, Microsoft fell 0.3% on Tuesday morning and is only shy of record highs. Shares of the software giant have broken out to a 232.96 buy point in recent sessions. The stock is at the top of the 5% buying zone rising to 244.61.
Follow Scott Lehtonen on Twitter @IBD_SLehtonen for more information on growth stocks and the Dow Jones industrial average.
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