The Dow Jones industrial average briefly fell more than 200 points on Monday before wiping out losses as Bitcoin dipped from record highs. Tesla stock tumbled after retrieving its Model Y SR + from its website.
X
Among the Dow Jones leaders, appeal (AAPL) decreased by 2.7%, while Microsoft (MSFT) has fallen by 3% in the current stock market. Ruspe (CAT) is just outside the buying range above an entry, while Nike (NKE) approaches a new buying point.
Tesla (TSLA) shot up nearly 5% on Monday as it broke through a key level.
Shoals Technologies (SHLS), Handelsbank (TTD) and Veeva Systems (VEEV) is one of the top stocks in or near the buying zones in Monday’s stock market action.
Apple, Microsoft and Tesla are IBD Leaderboard shares. Shoals Technologies was the IBD Stock Of The Day on Thursday.
Dow Jones Today
On Monday, the Dow Jones Industrial Average reduced losses to less than 0.1%, while the S&P 500 fell 0.6%. The technology Nasdaq composite sold 1.7% in afternoon trading.
US stock market overview today |
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|---|---|---|---|---|
| Index | Symbol | Price | Profit / loss | % Change |
| Dow jones | (0DJIA) | 31445.78 | -48.54 | -0.15 |
| S&P 500 | (0S & P5) | 3878.12 | -28.59 | -0.73 |
| Nasdaq | (0NDQC) | 13611.62 | -262.84 | -1.89 |
| Russell 2000 | (IWM) | 224.34 | -0.85 | -0.38 |
| IBD 50 | (FFTY) | 47.92 | -0.98 | -2.00 |
Last updated: 11:02 ET 22-22-2021 |
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Among exchange traded funds, Innovator lowered IBD 50 (FFTY) by 1% on Monday. Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) lost 1.1%. Meanwhile, the SPDR S&P 500 ETF (SPY) fell 0.5%.
Stock market rally
Looking back at the current rise, November was an important month for the stock market. IBD’s The Big Picture led the new uptrend after the bullish follow – up day of the market on 4 November. Meanwhile, the Dow Jones industrial average, Nasdaq and S&P 500, retreated from record highs.
Friday’s big picture said: ‘Most of the day I was unable to find direction. The stock market closed slightly mixed on Friday. But it was not a wasted day for the bulls, as small-cap capitalization and leading stocks fared much better than a new day.
Due to the recent strength, investors may remain in an offensive stance, with the understanding that there are still good reasons for caution. Look for stocks that are breaking out above new buying points.
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 is above $ 58,000 before dive
The price of Bitcoin reached $ 57,000 on Saturday and $ 58,000 on Sunday before falling below $ 48,000 on Monday morning. Bitcoin traded around $ 53,100 in the morning, according to CoinDesk.
The Grayscale Bitcoin Trust (GBTC) ETF decreased by 7% and pulls back to the almost 16% advance of last week.
Boeing stock reversal
Dow Jones giant Boeing (BA) reversed higher on Monday after initially falling after one of its Boeing 777-200s made an emergency landing at Denver International Airport shortly after takeoff on Saturday due to an engine outage.
The Boeing stock is about 36% lower than the 52-week high as it builds a base with a new 244.18 buying point.
Dow Jones shares: Caterpillar, Nike
Within the Dow Jones industrial average, Caterpillar leaves a short-term purchase price of 5% above a buy point of 200.27 in a short consolidation. Shares rose 0.5% on Monday morning.
CAT shares broke above the buying point on February 16th. The 5% buying zone ended at 210.28.
Elsewhere, Nike is approaching a 148.05 buying point in a flat base. Shares declined 1.9% in the morning trading while testing their 50-day test.
Shares to watch: Schools, Trade Desk, Veeva
Friday’s IBD Stock Of The Day, Shoals Technologies, is trying to break past a 41.86 buying point in an IPO base, according to an IBD chart analysis. Shares rose shortly thereafter early Monday before turning 1.8% lower.
Trade Desk trades about 9% of a 972.90 point of sale in a cup base. On Friday, the stock jumped nearly 7% following the company’s strong Q4 results.
Early Monday, Trade Desk slipped about 2%.
According to IBD Stock Checkup, Trade Desk shares show a strong 98 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.
Software leader Veeva Systems trades below a 314.09 buy point in a cup base. The software industry for health sciences fell nearly 3% on Monday morning.
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Tesla Stock
Tesla shares threatened to extend a three-session loss Monday, by more than 4%. Tesla picked up the Model Y Standard Range Plus from its website on Sunday.
Shares break down through their 50-day 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.
Dow Jones Leaders: Apple, Microsoft
Among the top Dow Jones shares, Apple fell 2.7% on Monday. Apple shares are less than the 10-week line, but a strong setback above the level will be positive for the stock’s outlook.
On February 18, the stock caused the 7% -8% loss-cutting sell-off as it fell more than 7% below its 138.89 buying point in a cup with handle.
Meanwhile, Microsoft fell 3% on Monday morning. The stock remains in the buying zone of 5% above a 232.96 buying point 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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