Dow Jones Futures: Market Rally, These 5 Stocks At Inflection Points;
Dow Jones futures open Sunday evening along with S&P 500 futures and Nasdaq futures. A stock market rally attempt is underway, but the major indexes all hit resistance at key levels as Treasury yields continue to climb. Tesla (TSLA) once again will be in the headlines over the week.
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The stock market rally is at an inflection point. The major indexes need to get above their resistance levels and follow through to confirm the new rally attempt.
Microsoft (MSFT), Nvidia (NVDA), Sea Limited (SE), Fortinet (FTNT) and Google parent Alphabet (GOOGL) all rebounded last week to around their 50-day moving averages. Except for perhaps, Nvidia stock, they could be considered actionable in a confirmed market rally. But investors neglect the “M” in CAN SLIM at their peril
Meanwhile, Tesla FSD Beta will start to open up to more Full Self-Driving owners at Friday midnight, according to CEO Elon Musk. Tesla also will hold an event at its Berlin factory on Saturday, with questions about when that plant will be operational. Tesla stock is holding in a buy zone.
Tesla, Google and Microsoft stock are on IBD Leaderboard. SE stock is on SwingTrader. Microsoft, Google and FTNT stock are on IBD Long-Term Leaders. Google stock is on the IBD 50.
The video embedded in the article analyzed the market rally attempt and reviewed Google, Microosft, Nvidia stock and Doximity (DOCS).
Dow Jones Futures Today
Dow Jones futures open at 6 p.m. ET on Sunday, along with S&P 500 futures and Nasdaq 100 futures.
Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live
Coronavirus News
Coronavirus cases worldwide reached 237.97 million. Covid-19 deaths topped 4.85 million.
Coronavirus cases in the U.S. have hit 45.13 million, with deaths above 732,000.
Stock Market Rally Last Week
The stock market rally attempt rebounded from Monday’s lows, then hit resistance late in the week.
The Dow Jones Industrial Average rose 1.2% in last week’s stock market trading. The S&P 500 index climbed 0.8%. The Nasdaq composite edged up 0.1%. The small-cap Russell 2000 dipped 0.3%.
The 10-year Treasury yield is at 1.605%, the highest in four months. The 10-year yield jumped 14 basis points last week, the seventh straight weekly gain and the biggest advance since the week ended Feb. 19. That February spike coincided with the Nasdaq top.
ETFs
Among the best ETFs, the Innovator IBD 50 ETF (FFTY) fell 0.9% last week, after tumbling 8.7% in the prior week. The Innovator IBD Breakout Opportunities ETF (BOUT) rose 1.8%. The iShares Expanded Tech-Software Sector ETF (IGV) dipped 0.2%, with MSFT stock a major component and Fortinet also a holding. The VanEck Vectors Semiconductor ETF (SMH) retreated 0.7% with Nvidia stock a key member.
Reflecting more-speculative story stocks, ARK Innovation ETF (ARKK) dipped 0.5% and…
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