Dow Jones Futures with S&P 500 Future and Nasdaq Futures will open on Sunday evening. The stock market correction worsened, however as the first moderate weekly losses of slimming did not believe the volatile selling of the latter week as treasury yields increased. Nasdaq cut down on a rally effort and hit its worst levels after 2020.
Eli Lily (LLY), Albemerley (ALB), Dollar tree (DLTR), ZIM integrated shipping (Jim) And the new IPO Increase energy (E.E.) In the buying zones, five stocks to look near Buy points Or simply bending relative strength.
Relative strength is important, but in market reform, relative winners can be “complete losers.” Apple (APL) A great example. Its Relative strength line The record is at its peak, but AAPL stock has been falling for six consecutive weeks.
LLY are in stock and ZIM IBD 50.
The video embedded in the article discussed the volatile market week in depth and analyzed DLTR stock, Excelerate Energy and Apple.
Dow Jones Futures Today
Dow Jones Futures with S&P 500 Future and Nasdaq 100 Futures will open ET on Sunday at 6 p.m.
Stock market rally
The stock market rally began with solid gains that ended abruptly on Thursday as the Nasdaq fell 5% that day.
The Dow Jones Industrial Average fell 0.2% last week Stock market trading. The S&P 500 index is down 0.2%. The Nasdaq compound lost 1.5%. Small Cap Russell 2000 fell 1.3%.
The 10-year Treasury yield was up 24 basis points at 3.12%, with almost all gains coming late to the Federal Reserve meeting on Wednesday. The 10-year yield is the highest in the 11-year period from October 2018 to 3.25%.
U.S. crude oil futures rose 4.9% last week to $ 109.77 a barrel.
In the middle The best ETFsInnovator IBD 50 ETF (FFTY) Fell 2.4% last week, while Innovator IBD Breakout Opportunities ETF (Boat) 3.3%. iShares Extended Technology-Software Industry ETF (VAT) Fell 4.9% as investors cut software. WANEX Vectors Semiconductor EDF (SMH1.2%.
SPDR S&P Metals & Mining ETF (XME) Slipped 3.65% last week as steelmakers chased down miners in breaking key support. Global X US Infrastructure Development ETF (Pavement1.4% retreated. US Global Jets ETF (JETSFell 4.9%. SPDR S&P Homebuilders ETF (XHBIncreased by 0.1%. Energy Selection SPDR ETF (XLE) 10.3% higher. Financial Examination SPDR ETF (XLFIncreased by 0.6%. Health Care Selected Sector SPDR Funding (XLVDecreased by 0.4%.
Represents more speculative story stocks, ARK Innovation ETF (ARKK) Fell 3.25% last week and ARK Genomics ETF (ARKG) 3.8%, both 25-month lows. Despite a sharp decline in the ETF since the beginning of 2021, ARKK saw record receipts on Tuesday.
Eli Lily Stock
Eli Lilly stock continued to trade in its 21-day range last week, seeing support in its 10-week range. The stock was up 1.6% last week at 296.90. LLY stock is in the range from 284 buy points per cup site. Taking advantage of Wednesday’s high of 296.28, the stock broke over a narrow trend. Or, you can wait to see if LLY Stock creates a new platform that offers buying point in the best market conditions.
The RS series is hitting new highs even from the LLY stock in early April.
ALB stock rose 26% to 242.41 last week, driven by strong earnings and guidance. To live (LTHM) Then Albemarle itself. The lithium giant has broken a trendline by vaulting over its 50-day and 200-day lines. This would have provided an early entry into a better market. Currently, the ALB stock is working deeply File Basic 291.58 with a buying point. But may form a handle around the main resistance at Albemarle 248.
Dollar wood stock
The Dollar Tree stock has returned to its 50-day / 10-week high for the first time since its beginning in March. The DLDR stock tried to gain on Friday despite the low volume. A slightly stronger move, if any, will provide early entry. Dollar tree stock is now at the forefront among discount retailers.
The RS tax for the DLDR share is the maximum.
ZIM stock was 19% 66.16 last week, rising to recover its 50-day level. It tested its 40-week high after falling below 48.21 in the previous week. The high dividend shipping play now has a cup base with a buy point of 79.05. Rather than creating a handle on earnings on May 18, ZIM stock will move slightly higher.
ZIM is a container ship that goes to sea, but it has recently leased all three LNG ships.
Excelerate Energy is a rare IPO in 2022. The stock traded at $ 24 in the first half of April, down from 29.10 on April 18 to 22.65 on April 22. EE stock now IPO Basic 29.20 with buying point, step MarketSmith analysis. The stock tried to break the downward trend on Friday, before closing at 26.90. Moving above Friday’s high of 27.38 will allow for early entry.
The RS line, the blue line in the charts provided, is already at a new high.
Excelerate Energy operates floating liquid-natural-gas terminals. It is already profitable and revenue is expected to rise by 726% in 2022 due to overseas demand for LNG boom.
Finally, the stock of Apple Tough Thursday sold out after a brief illumination of the opening entry on Wednesday. Although the 0.2% decline was not to 157.28, the shares extended their weekly losses. The RS index for AAPL stock is at its highest level in the weekly chart. This is a reflection of how weak the S&P 500 has been since the end of March. But it is also a reminder of how relative winners in market reform can fail miserably.
However, Apple Stock is worth looking at as one of the only technology or development names that shows any kind of regression. If it can stay in the Nasdaq bear market, it will be at the forefront of the next steady rise.
Market Rally Analysis
The stock market has had a stomach-churning roller-coaster ride for the past week. After starting a rally on Monday and rising on Wednesday, key indices dived on Thursday and then lost more ground on Friday intraday.
The Nasdaq fell to its lowest level since 2020, wiping out its rally effort on Thursday and briefly lowering 12,000 on Friday. Russell 2000 fell on Friday into late 2020.
The S&P 500 traded lower on Friday.
The market rally effort is still alive in the S&P 500 and Dow Jones. So they a The following day At any point.
The stock market could use another big shake-up to spur surrender sales. Fear measurements are close to recent highs, but have not erupted above 2022 peaks. Continued leaks to ARKK and other development funds indicate that “Buy the Dip” is still in place.
New lows continue to dominate new highs, especially on the Nasdaq. The market width is bad. This has been a problem for the past one year. But by 2022, Apple stock and other megacops will no longer cover that fundamental weakness.
Commodity plays are still a bright spot, especially for oil and gas names. The names of the fertilizers try to keep their 50-day moving average. Lithium plays are the focus again, while the woodwork and construction materials are interesting. Meanwhile, like some pharmaceutical manufacturers such as LLY Stock, health insurers continue to be strong, but leadership in the medical field is declining.
Meanwhile, steelmakers want to break support and join the gold and base metal mines. Heavy construction companies have also been in decline in recent weeks. Despite strong oil and gas plays, uranium and solar stocks have fallen sharply over the past few weeks.
What to do now
Investors should be in all cash or almost so. Exceptions are long-term stocks with small exposure or large gains to leading sectors.
As Thursday’s stunning sell-off showed, the market can sell much faster and deeper than mobilizing. So, if you have the exposure, be prepared to make a partial profit quickly and minimize the loss quickly.
Do not try to guess the bottom of the market. You will be right in the end, but how many potential bottoms have there been in the last few months?
For now, keep your powder dry and keep your mind refreshed – work on your watch list.
According to The big picture Every day the direction of the market and the leading stocks and sectors must be consistent.
Follow Ed Carson on Twitter @IBD_ECarson For stock market updates and more.
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