Dow Jones futures will reopen Sunday evening, along with S&P 500 futures and Nasdaq futures, after the stock market rally showed resilience last week. The Bitcoin price traded at fresh record highs Sunday. Tesla (TSLA) pulled the base Model Y SR+ after launching it just last month.
That raises another wild card for Tesla stock, which continued to test key levels last week.
Solar IPO Shoals Technologies (SHLS), 5G chipmakers Qorvo and MaxLinear (MXL), Dow Jones giant Microsoft (MSFT) are all near buy points, with SHLS stock and Microsoft already actionable and Apple supplier Qorvo (QRVO) arguably so.
The Dow Jones actually edged higher last week while the S&P 500 and S&P 500 fell modestly, rallying off short-term support. Growth stocks, especially more speculative names, suffered significant to sharp losses, though they generally rebounded on Friday. Metals, miners and financial stocks were strong performers.
Still, the recent action highlights the need for proper entries and sound sell rules. The problem with such a strong stock market rally is that it’s a bad teacher. Just like an easy A, everyone enjoys easy money. But if you learn the wrong lessons from the past 10 months, then that easy money will go away quickly.
While the Nasdaq is no longer extended, margin debt and investor exposure overall is a growing … More »