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Dow Jones Futures: Stock Market Rally Suspended; Near Tesla, Google, meta trend line buying points

Lakshmi

Dow Jones futures rose slightly overnight with the S&P 500 futures and Nasdaq futures. The stock market rally was largely suspended on Tuesday after running for the previous four sessions. New Govt cases topped 1 million on Tuesday, but vaccines and mild omega-3 infections have kept deaths at bay.




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Meta share, Tesla (DSLA), Pioneer Natural Resources (PXD), Skirt (Skirt) And Google Parent letters (Google) Everyone trades around Trend line Buy points.

Trend Lines can provide early recordings for stocks, which provides a technical resistance point. They can be drawn across tops that collapse into a basement, breaking the slope of a handle or returning to a 50-day line or other key position from a pull. With the exception of the Tesla shares all of these names have trend lines that are relatively closely aligned with the 50-day line, giving them another reason to consider.

Meta platforms (FB) When shares of Tesla, Google, Chaya and PXT all hit resistance around those inputs, its trend is clearly above the line.

Tesla Stock and Google are in motion IBD Leaderboard. Google Stock is running IBD long-term leaders. Tesla has stock IBD 50.

Dow Jones Futures Today

Dow Jones Futures advanced 0.15% and reasonable value. The S&P 500 futures are up 0.2%. The Nasdaq 100 futures are up 0.35%.

The future of crude oil rose slightly overnight. U.S. crude oil reserves have fallen 3.1 million barrels in recent weeks, according to data released by the U.S. Petroleum Corporation late Tuesday. The Energy Information Administration will release official inventory and production data on raw and refined products on Wednesday morning.

Remember that action is overnight Dove futures Elsewhere there is no need to translate it into the next regular real trade stock market Session.


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Corona Virus News

The number of corona victims worldwide has reached 283.14 million. Covit-19 deaths reach 5.43 million.

The number of corona virus cases in the United States has reached 54.13 million, with more than 841,000 deaths.

New corona virus cases removed 1 million for the first time on December 28, reaching 1.15 million. Govt cases are at an all-time high in the United States. But hospital admissions did not see a sharp increase and deaths did not increase. Credit vaccines, past infections and mild omega variant.

Stock market rally

The stock market boom had a mixed session. The Dow Jones Industrial Average rose 0.3% on Tuesday Stock market trading. The S&P 500 index fell 0.1%. The Nasdaq compound fell 0.6%. Small-cap Russell 2000 retreated 0.6%.

10-year Treasury returns were 1.48%, trading at its 200-day level. US crude rose 0.5% to $ 75.98 a barrel.

In the middle The best ETFs, Innovator IBD 50 ETF (FFTY) Innovator IBD Breakout Opportunities ETF (e.g.BoatDecreased by 0.3%. iShares Extended Technology-Software Industry ETF (IGV) And VanEck Vectors Semiconductor ETF (SMH) Both fell 1%.

SPDR S&P Metals & Mining ETF (XME) Fell 0.75% and the Global X US Infrastructure Development ETF (PavementIncreased by 0.1%. US Global Jets ETF (JETSIncreased by 0.6%. SPDR S&P Homebuilders ETF (XHB0.3% higher. Energy Selection SPDR ETF (XLE) 0.1% lower, a component of PXD stock. Financial Examination SPDR ETF (XLF) Was just above Break Even. Health Care Selected Sector SPDR Funding (XLVFell 0.3%.

Represents more speculative story stocks, ARK Innovation ETF (ARKKSlit 1.8% and ARK Genomics ETF (ARKG) Tesla still holds the No. 1 position in 2.1% of ARK Invest’s ETFs.


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Shares in trend lines

Meta Platforms, previously Facebook, rose 4 cents to 346.22, giving up intraday gains. On Monday, FB stock rose 3.3% to 347.87, recovering from its 50-day and 200-day taxes. It broke above a trend line starting in early September with a point corresponding to 344.46. The meta stock is still close to those levels, with another potential resistance area of ​​November 22 short-term highs of 353.83. FB Stock is far from official Buy point 384.43.

PXD stock was down 1.1% at 183.72, barely holding its 50-day mark. Shares plummeted after topping a trend line intraday. Leading stock rose 3.2% to 185.77 on Monday and recovered its 50-day high as crude oil prices raised several shale plays. The PXD stock has an official buy point of 196.74.

Shares of Google fell 0.8% to 2,933.74 on Monday. GOOGL Stock has a Flat base 3,019.43 Buy point, according to Market Smith.

Chaya stock fell 0.9% to 330.19, around a trend line. On Monday, the stock rose 2.9% to 333.05, recovering from a 50-day high, with many trucking stocks moving into higher gear. Saia stock recovered strongly from its December 20 low of 288.23. After this week it should have the right platform with a buy point of 365.60.

Tesla Intraday was down 0.5% at 1,088.47 after hitting 1,119. It rose four days, 22% to 1,093.24, recovering the 50-day line and hovering around a trend line. Ideally, the TSLA stock will form a handle and take a breather. But a firm move above intraday highs on Tuesday will provide a clear trend line break. Tesla stock is a Double base With a buying point of 1,202.05.

Market Rally Analysis

The rise of the stock market was suspended on Tuesday, Nasdaq Dec. Slightly lower after a high of 1,000 points from the 20th until the end of Monday. The S&P 500 record peaks when the Nasdaq and Dow Jones are close.

Russell 2000 restored its 200-day lineup on Tuesday morning but then retreated. This is a reflection of the overall market breadth – improved over the past week but still has a long way to go.

The losers overtook the winners by almost 2-to-1 on the Nasdaq.

The market suspension at the end of the year will allow stocks to consolidate recent gains, perhaps setting new entries for 2022 into larger entities and generating overall returns. Shares like Tesla or Google would be even better off breaking a trend line after hitting resistance for a few days. Of course, just because a stock is running up resistance does not mean it is punching.

Travel and trucking-led shipping stocks are leading sectors, especially as the market rally is a positive sign as it faces the Omigron Govt wave well. Chips and house building names are also strong. The medical field has been a leading field for the past several weeks. Energy stocks regenerate. The software still seems to be overall damaged, but a few are performing better.


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What to do now

The recent four-day run-up has allowed several stocks to buy points in the last few sessions, providing an opportunity to add exposure. A few more buy points topped the mix on Tuesday.

If you have already added significant revelations in the last few days, you may want to wait until the new year. There is no need to make massive new challenges in a light-volume environment. The beginning of the new year will be happy. But a steep setback, triggered by tax sales, should come as no surprise.

Work on your watchlists. Make a diverse list of potential winners. The new year will provide opportunities for bigger gains than the last three days of 2021.

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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