There was little change in Dow Jones futures, S&P 500 index futures and Nasdaq futures on Tuesday night. After Monday’s sell-off, the major stock indexes rebounded on Tuesday. But this stock market rebound attempt has not yet confirmed the upward trend.
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Google stocks, Microsoft (Microsoft), Data dog (dog), Serve immediately (now), Digital turbine (application), Capital One (COF), Dekang (DXCM), around (RVLV) and UHaul parent company American company (UHAL) is one of the stocks to watch. Generally, they hold or withdraw their 50-day line.However, APPS stock rebounded from its 200-day line, and Google’s parent company letter (GOOGL) and Microsoft stocks are trying to return to their 50-day line. But all have relative strength and weakness lines at or near high points.
Google stock, Microsoft and ServiceNow are on the IBD rankings, while DDOG stocks are on the rankings. The stocks of Google, Microsoft and NOW are also on the list of long-term IBD leaders. DXCM stock and Datadog’s IBD 50 UHAL stock are IBD stocks on Tuesday.
The video embedded in this article discusses market behavior analysis of Datadog stock, Microsoft and DXCM stock on Tuesday.
Dow Jones Futures Today
Dow Jones futures even have fair value. S&P 500 index futures and Nasdaq 100 index futures fell.
Keep in mind that overnight movements in Dow Jones Index futures and elsewhere will not necessarily translate into actual transactions in the next regular stock market trading session.
Join the IBD experts who analyze the operational stocks in the stock market rebound on IBD Live
Stock market rebound attempt
Although the major stock indexes have fallen from their highs, the trading volume has been weak, but the stock market has continued to rise steadily.
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 slightly by 0.35%, slightly above its 200-day line and below its 50-day line.
Crude oil prices continue to rise. The 10-year U.S. Treasury bond yield climbed 5 basis points to 1.53%.
Among the best ETFs, the Innovator IBD 50 ETF (FFTY) rose 1.5%, while the Innovator IBD Breakout Opportunities ETF (BOUT) rose 1.2%. The iShares Expanded Tech-Software Sector ETF (IGV) rose 1.7%, with MSFT stock being the main component and ServiceNow being a notable holding. VanEck Vectors Semiconductor ETF (SMH) rose 1.4%.
SPDR S&P Metals & Mining ETF (XME) rose slightly by 0.7%, and Global X US Infrastructure Development ETF (PAVE) rose 0.9%. The US Global Jet ETF (JETS) fell 0.7%. SPDR S&P Homebuilders ETF (XHB) rose slightly by 0.2%. Energy Select SPDR ETF (XLE) rose 0.6%, and Financial Select SPDR ETF (XLF) rose 2%.
Reflecting more speculative stocks, ARK Innovation ETF (ARKK) rose 1.7%, and ARK Genomics ETF (ARKG) rose 1.2%. ARKK rebounded from a four-month low, while ARKG rebounded from its worst level since November last year.
The five best Chinese stocks to watch right now
Stocks to watch: Datadog, ServiceNow, Digital Turbine
Datadog shares rose 3.5% to 141.89, rebounding from its 10-week line and regaining its 21-day line. In a better market, aggressive traders may use Tuesday’s move as an opportunity to start or increase their DDOG stock position.
ServiceNow shares rose 2.5% to 633.42, rebounding from its 50-day period. This weekend, NOW stock should have a flat base with a buy point of 681.20.
Digital Turbine shares rose 6.1% to 73.56, rebounding from its 200-day period. APPS stock rebounded from the 200-day line at the end of September, and then fell with the market.
Stocks to watch: Capital One, Revolve, Dexcom, Amerco
COF shares rose 1.6% to 168.78. According to MarketSmith’s analysis, this is slightly lower than the buy point of the 171.60 cup handle.
Revolve shares rose 5.5% to 65.77, regaining its 50-day line. RVLV stock is a cup with a handle with a buy point of 72.37. In a better market, aggressive traders may acquire the young adult clothing retailer on Tuesday because it breaks the downward trend of its handles.
Dexcom shares rose 2.65% to 540.39. Unlike many medical product companies, DXCM stock found support for its 50-day line and rebounded from that level on Tuesday. Monday’s low also roughly coincided with the top of the previous short consolidation.
UHAL shares rose 1.5% to 662, with a buy point of 677.44. Amerco is on a flat basis, followed by a longer integration period.
Stocks to watch: Google, Microsoft
Google shares rose 1.8% to 2,720.46 points. This is still below its 50-day line. Breaking through the 50-day line will be a key test, especially since GOOGL stock also hopes to recover its 21-day line and break the short-term downtrend. Google has a flat base with a buy point of 2,925.17.
Microsoft stock showed a similar chart trend, rising 2% to 288.76 points on Tuesday. Below its 50-day line, the buy point for MSFT stock is 305.94.
In addition to their respective importance, if Google and Microsoft can recover their 50-day line and move towards a breakthrough, this will be a healthy sign of the stock market’s attempt to rebound.
Market analysis
After Monday’s market sell-off, the Nasdaq Index looked oversold in some ways. Therefore, Tuesday’s rebound should be too surprising, although it is a good thing to see technology stocks rebound as the 10-year US Treasury yield rises by a few basis points. The volume has declined compared to Monday, which is not entirely encouraging. This is just one day. The small-batch rebound on Friday brought some nice price increases, but they were offset on Monday.
Finally, the Dow Jones, S&P 500 and Nasdaq are all below their 21-day and 50-day antennas. When the index falls below these levels, this is not a good sign.
Tuesday marked the first day of new stock market rebound attempts by the Nasdaq and S&P 500. Both fell below recent lows on Monday.
But the Dow Jones Index did not break below recent lows, so Tuesday marked the third day of its rebound attempt. The Dow Jones Index may conduct follow-up transactions in the next trading day to confirm a new upward trend.
Generally, subsequent trading days for the S&P 500 and Nasdaq are preferable, but the Dow Jones FTD is effective. In addition, since the energy and financial sectors are currently the best performing sectors, the rebound led by the Dow Jones Index may be appropriate.
In addition to energy and financial stocks, fertilizer stocks are nearing highs, travel stocks rebounded, human resources companies are performing well, and several trucking stocks are hovering near their buying points.
At the same time, although some technology stocks such as DDOG stock found support at their 50-day SMA, many other technology stocks did not. Nvidia (NVDA), Break off (SNAP) Yes, Google stock faces a critical test.
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What to do now
Well, the stock market’s attempt to rebound is underway, but the technological revival is too early. Investors need not rush to return to the market. If this market rebound really has legs, investors will have many opportunities after confirming the market rebound.
If you have the urge to increase exposure, you can try eating a green banana or a hard peach. If you are still interested in stocks, please keep a small position and prepare to exit quickly. You can also consider buying broad-based ETFs instead of individual stocks.
Now is the time to deal with these watch lists. Watch for relatively strong stocks that hold or recover key support levels. Depending on the duration of the market adjustment, your watch list may change significantly.
Read the big picture every day to keep up with the market direction and leading stocks and industries.
Follow Ed Carson on Twitter @IBD_ECarson Stock market updates, etc.
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