Dow Jones futures fell slightly on Tuesday night, S&P 500 index futures and Nasdaq futures, Palantir Technology (PLTR) Be late on a big Army contract. After Monday’s sell-off, the major stock indexes rose on Tuesday. However, this attempted recovery of the stock market has not yet confirmed the upward trend.
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Google action, Microsoft (Microsoft), Data dog (dog), Serve immediately (now), Digital turbo (application), Capital one (memory), Dekang (DXCM), change (RVLV) and father UHaul American company (UHAL) is one of the actions worthy of attention. They usually stay above or return to above the 50-day line.However, APPS stock price is rebounding from the 200-day line, and Google’s parent company letter (GOOGL) and Microsoft stocks are trying to return to the 50-day line. But they all have relative lines of force at or near the maximum.
Google, Microsoft, and ServiceNow stocks are on the IBD rankings, while DDOG stocks are on the rankings. The stocks of Google, Microsoft and NOW are also among the long-term IBD leaders. DXCM and Datadog stocks are at EII 50. UHAL stock started from the existence of EII on Tuesday of that day.
The video included in this article looks at market movements on Tuesday and looks at Datadog, Microsoft, and DXCM stocks.
Palantir Army Contract
At the same time, Palantir announced that he had won a $823 million contract with the U.S. Army.
The company said in a press release: “Palantir will deploy the Palantir Gotham platform to support Army intelligence users around the world through a global joint intelligence data framework and an analysis platform that spans multiple security classifications.”
PLTR shares rose 14% in the extended transaction. This will push Palantir to break through its 50-day and 200-day moving averages. PLTR shares rose 0.2% to 23.21 points on Tuesday.
Dow Jones Futures Today
The relative fair value of Dow Jones futures fell 0.35%. S&P 500 index futures fell 0.5%, and Nasdaq 100 index futures fell 0.6%.
Please keep in mind that overnight movements in Dow futures and elsewhere will not necessarily translate into actual transactions on the next stock market trading day.
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Stock market recovery attempt
Although the main stock indexes closed slightly above their highs, the trading volume was weak, but the stock market continued to rise steadily.
At the same time, the Dow Jones Industrial Average rose 0.9% in Tuesday’s stock market trading. The S&P 500 index rose slightly more than 1%. The Nasdaq Composite Index rose 1.25%. The small-cap Russell 2000 Index rose 0.35%, slightly higher than its 200-day and 50-day lines.
Crude oil prices continue to rise. The 10-year U.S. Treasury bond yield rose by 5 basis points to 1.53%.
Among the best ETFs, Innovator IBD 50 ETF (FFTY) rose 1.5%, while Innovator IBD Breakout Opportunities ETF (COMBATE) rose 1.2%. The iShares Expanded Tech-Software Sector (IGV) ETF rose 1.7%, with MSFT being the main component and ServiceNow being a significant share. VanEck Vector Semiconductor ETF (SMH) rose 1.4%.
SPDR S&P Metals & Mining ETF (XME) rose 0.7%, and Global X US Infrastructure Development ETF (PAVIMENTAR) rose 0.9%. The US Global Jet ETF (CHORROS) fell 0.7%. SPDR S&P Homebuilders (XHB) ETF rose 0.2%. The Energy Select SPDR (XLE) ETF rose 0.6%, and the Financial Select SPDR (XLF) ETF rose 2%.
ARK Innovation ETF (ARKK) rose 1.7% and ARK Genomics ETF (ARKG) rose 1.2%, reflecting more speculative story stocks. ARKK rebounded from a four-month low, while ARKG rebounded from its worst level since November last year.
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Actions to consider: Datadog, ServiceNow, Digital Turbine
Datadog shares rose 3.5% to 141.89, rebounding from its 10-week and 21-day lines. In a better market, aggressive traders can use the trend on Tuesday as an opportunity to start or increase their DDOG stock positions.
ServiceNow shares rose 2.5% to 633.42, rebounding from its 50-day period. This weekend, NOW stock should be flat at 681.20 buy point.
Digital Turbine shares rose 6.1% to 73.56, rebounding from its 200-day period. APPS stock price rebounded from the 200-day line in late September, and then fell with the market.
Stocks to consider: Capital One, Revolve, Dexcom, Amerco
COF shares rose 1.6% to 168.78. According to MarketSmith Analysis, this is slightly lower than the purchase point of 171.60 points.
Revolve shares rose 5.5% to 65.77, regaining its 50-day line. RVLV stock is forming a handle cup base with a buy-in point of 72.37. In a better market, aggressive traders could have bought the young adult clothing retailer on Tuesday because it broke the downward trend.
Dexcom shares rose 2.65% to 540.39. Unlike many medical product companies, DXCM stock price supported its 50-day line and rebounded from that level on Tuesday. Monday’s low also roughly coincides with the highs of the previous short consolidation.
UHAL shares rose 1.5% to 662, with a buy point of 677.44. Amerco is in a stable state and has been integrating for a longer period of time.
Follow-up actions: Google, Microsoft
Google shares rose 1.8% to 2,720.46 points. This is still below its 50-day line. More than 50 days will be a key test, especially because GOOGL stock also hopes to regain the 21-day antenna and break the short-term downtrend. Google has a flat base of 2,925.17 purchase points.
Microsoft shares showed a similar chart trend, rising 2% to 288.76 points on Tuesday. MSFT’s stock price is below the 50-day line, and the flat buy point is 305.94.
In addition to their respective importance, if Google and Microsoft can restore their 50-day line and move towards a breakthrough, this will be a healthy sign of the stock market recovery attempt.
Market analysis
After the market sell-off on Monday, the Nasdaq index appeared to be oversold in some ways. Therefore, Tuesday’s rebound shouldn’t be too surprising, although even if the 10-year US Treasury yield has risen by a few basis points, it’s a good thing to see a rebound in technology stocks. Compared to Monday, the volume has declined, which is not entirely encouraging. And only one day. Friday’s low volume rebound brought some good price increases, but these were offset on Monday.
Finally, the Dow Jones, S&P 500 and Nasdaq are all below the 21-day and 50-day lines. When the index falls below these levels, this is not a good sign.
Tuesday marked the first day when the Nasdaq and S&P 500 re-attempted the stock market recovery. Both hit recent lows on Monday.
But the Dow Jones Index failed to break the recent lows, marking the third day of Tuesday’s rebound attempt. The Dow Jones Index may arrange subsequent trading days in the next trading day to confirm the new upward trend.
After a few days of trying to concentrate, the following day will appear. This means that the strong rise of one or more major indexes is greater than the previous trading day, which shows that large institutions are supporting the new upward trend. This confirms the new market rebound. Not all confirmed rebounds have been successful, but this is a strong signal to enter the market.
The S&P 500 and Nasdaq generally prefer to track the day, but the Dow Jones FTD is effective. In addition, since energy and finance are now among the best performing industries, a rebound led by the Dow may be appropriate.
In addition to energy and finance, chemical fertilizer inventories are close to high levels, tourism is picking up, staffing companies are performing well, and various truck inventories are close to the point of purchase.
At the same time, although some technologies such as DDOG stock found support in its 50-day line, many other technologies did not. Nvidia (NVDA), break in (Segmentation) And, yes, Google’s stock faces a critical test.
Time to market for the IBD ETF market strategy
What to do now
Well, the attempt to recover the stock market is underway, but now is the beginning of a technological renaissance. Investors do not need to try to re-enter the market. If this market rebound does exist, investors will have many opportunities after confirming the market rebound.
If you have the urge to increase contact, you can try eating a green banana or a hard peach. If you are still interested in stocks, please keep a small position and be prepared to exit quickly. You can also consider buying a broad-based ETF instead of a single stock.
Now is the time to deal with these watch lists. Watch for relatively strong stocks that hold or recover key support levels. Depending on how long the market adjustment lasts, your watch list may change a lot.
Read the big picture every day to keep up with the market direction and major stocks and industries.
Follow Ed Carson on Twitter @IBD_ECarson Stock market updates, etc.
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