May 26, 2022

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Dow futures: Market rally continues to slide, 5 stocks close to points of purchase, Tesla earnings loom

Dow futures: Market rally continues to slide, 5 stocks close to points of purchase, Tesla earnings loom

Dow futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures. The stock market rally took further losses last week, as the Nasdaq led the declines as Treasury yields continued to rise.




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What is your game plan for the next week? Be wary of new purchases, focusing on leading sectors. Earnings season adds more uncertainty, with Tesla (TSLA) title a great week of results.

Expedia (EXPE), Cheniere Energy (liquefied natural gas), merck (Mrk), Edwards Live Science (EW) And Check Point برنامج (CHKP) Five stocks close buy points A relatively strong market area. EXPE stock is part of the latest travel revival. LNG stocks are a pioneer in the still-hot energy sector. Merck and Edwards Lifesciences shares are part of the health medical sector. CHKP Stock is a pioneer in cybersecurity, and it’s one tech pocket that’s still holding on.

For its part, Tesla shares are developing cup with handle Point buying, but the chart is messy as profits are just one of the many risks being focused on.

Operating shares of Cheniere Energy and Tesla IBD Leaderboard. Tesla is also on defect 50. Check point was IBD stock today.

The video included in the article discusses market activity this week and analyzes EXPE, Cheniere Energy and Check Point Software stocks.

Dow jones futures contracts today

Dow Jones futures open at 6 p.m. ET on Sunday, along with S&P 500 and Nasdaq 100 futures contracts.

US stock markets are closed On April 15th for Good Friday. Stock markets in Europe, Australia and Hong Kong are closed on Friday and Monday.

The People’s Bank of China on Friday cut minimum reserve requirements for banks by 25 basis points from April 25 to boost the economy amid widespread shutdowns. But it kept the one-year medium-term loan rate steady at 2.85%, much to the surprise of most economists.

Remember to work overnight in Dow Jones futures contracts and elsewhere that does not necessarily translate into actual circulation in the next regular session Stock market session.


Join IBD experts as they analyze actionable stock market actionable shares on IBD Live


stock market rise

The stock market rally has seen some big daily and intraday moves in a short week, but the overall trend is still down. The Dow Jones Industrial Average fell 0.8% last week stock market trading. The S&P 500 was down 2.1%. The Nasdaq Composite Index lost 2.6%. Small business Russell 2000 posted a profit of 0.5%.

The 10-year Treasury yield rose 12 basis points to 2.83%, the highest level since late 2018.

US crude oil futures rose about 9% to $106.95 a barrel last week. The New York Times reported Thursday that the European Union is drawing up plans to ban Russian crude, a painful economic move that Germany in particular has resisted. It is said that the European Union will not formally discuss a ban on Russian crude until the last round of the French presidential vote on April 24. If the EU continues to do so, crude oil prices may rise. The European Union is even more dependent on Russian natural gas.

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ETFs

between the Best ETFsThe Innovator IBD 50 ETF (fifty) is down 0.2% last week, while the Innovator IBD Breakout Opportunities ETF (fit(It is up 0.8% in the ETF)IGV) sank 2.1%. VanEck Vectors Semiconductor Corporation (SMH) slipped 3.5%, threatening to undermine its 2022 lows.

SPDR S&P Metals & Mining ETF (XME) rose 7.3% last week to a new high. Global Infrastructure Development Fund X US (cradle) made 1.4%. US Global Gates Foundation (ETF)Planes) went up 8%. SPDR S&P Homebuilders ETF (XHB) closed below the break-even point. SPDR Specific Energy Fund (SPDR ETF)XLE(Up 0.4% and the Financial Select SPDR ETF)XLF) down by 2.6%. SPDR Healthcare Sector Selection Fund (XLV) lost 2.9%, but from all-time highs.

Shares reflect more speculative stories, the ARK Innovation ETF (see you) and the ARK Genomics ETF (ARKG) Both fell 2.7% last week. Tesla stock continues to rank number one across the holdings of Ark Invest.


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stock to watch

EXPE stock rose 6.5% to 191.55 last week, reclaiming the 50-day streak. according to MarketSmith Analysis. Investors can use a downward sloping trendline from the top of the base to find an early entry around 195.

Expedia stock has a three-digit price-to-earnings ratio. High-value PE stocks haven’t performed well in recent months. However, with Expedia earnings expected to rise 364%, this may be an exception.

Expedia stocks rose on Wednesday and Thursday along with many other travel stocks Delta Airlines (DA) earnings and guidance on Wednesday, as the carrier said travelers were not gradually subject to higher fares. Hilton Worldwide (HLT) And Marriott International (March) clears the official buy points Thursday, at least during the day, after crossing the early entry points on Wednesday.

The Relative force line As for EXPE stock, it is far from the consolidation highs, which is a potential concern. Marriott and Hilton RS lines are at or close to high levels. Relative strength lines, the blue lines in the provided charts, track the stock’s performance against the S&P 500 Index.


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LNG stockpiles

LNG stocks fell 3.2% to 139.53 last week, but bounced back from its 21-day moving average and 10-week line. This is the second or third 10-week test of Cheniere Energy stocks, but investors can use it to start a small trade or add a few more shares. LNG stocks could be in the process of forming a new base. The RS line is just below the heights.

Cheniere Energy is expected to generate huge profits in 2022 with rising demand for LNG worldwide, especially Europe. The Russian-Ukrainian crisis is drawing more attention, although a Russian gas ban is not on the table at the moment.

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Merckstock

Merck stock fell 0.9% to 86.91 last week, pausing after a steady rise in the right-hand side of a cup base. MRK stock has a buy point of 91.50 at the moment, but could have a handle on the daily chart after Monday, giving it an entry point at 89.58. Technically, Merck stock now has a handle on the weekly chart, but it’s barely perceptible. Ideally, the Merck stock will form a slightly longer, deeper handle to eliminate weak mounts. But the RS line is at a 52-week high already.

Electronic Warfare Arrows

Edwards Lifesciences stock fell 3.15% to 120.02 last week. On the daily chart, EW stock has a cup with 131.83 buying points. After Monday, it could have a handle at 125.21 an official buying point. This handle is already present on the weekly chart. The RS line of electronic warfare inventory has already reached a record high as well.

Medical device and product makers should see higher demand as electrical procedures return as Covid wanes.

CHKP Stock

Check Point Software stock lost 4 cents to 142.78 last week, and has traded relatively tightly over the past few weeks. A CHKP stock in a consolidation state can be viewed as a flat base or shallow cup with handle. The purchase point of a mug with a handle is 145.64. A trend line sloping down from the March high would provide a slightly lower entry.

The current rule followed a long consolidation, arguably going back to the beginning of 2021.

Check Point earnings growth is weak, not expected to improve much. But CHKP stock has a low PE. Palo Alto Networks (bano), a faster-growing and top-notch cybersecurity play, also looks good.

Tesla Stock

Tesla stock fell nearly 4% last week to 985, after losing more than 5% in the previous week. The upside is that the handle now has some depth, presumably to shake up some vulnerable stockholders after TSLA’s strong performance in late March. But the graph is deep and messy. A longer handle, with some tighter action, would allow the major averages to keep catching up.

Tesla earnings are due Wednesday night. Investors can expect solid year-over-year growth, but will likely look forward to the second quarter and beyond.

Will the company discuss the impact of Tesla’s Shanghai shutdown? The EV giant’s main plant has been closed since March 28 due to the city’s strict Covid lockdowns, which do not appear to be ending any time soon. That will have a major impact on production in the second quarter, even as the Berlin and Austin plants grow slowly.

Investors will also look for new clues about the Tesla Cybertruck, Semi, and other products. But they may not get it.

Meanwhile, Tesla CEO Elon Musk asked Twitter (TWTR) are also potential headwinds. If the Twitter holder buys, he may sell another portion of the TSLA stock to pay for it. Running another company could distract Musk.


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Market Rise Analysis

The stock market rally continues to grow more fragmented. The Nasdaq Composite Index is down sharply after falling below the 50-day line the previous week. The S&P 500, now below 200 days, fell below 50 days as well.

The commodity sector is broad and medical and defense companies are the leaders. Insurance companies and REITs are reasonably cohesive. Travel names are back again, with crude oil prices off their March highs, and consumers turning away from merchandise and willing to pay exorbitant prices.

But the Nasdaq lost more than half of its gains in late March. apple (AAPL) and the Tesla holds up well, but it doesn’t look particularly attractive either. As for the other mics, Microsoft (MSFT), nvidia (NVDA) and Google Parent the alphabet (The Google) is approaching its lowest levels recently. Amazon.com (AMZN) and father Facebook ID pads (FBStruggling for months.

The high rate environment is challenging for high value growth stocks. TSLA stock is emerging, but this market hasn’t addressed lone wolf growth.


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What are you doing now

The fork market rally, with some sectors rising and others falling, is a challenging trading environment. Investors need to focus on the leading sectors. But don’t get too concentrated in one particular area. One positive aspect of the travel stocks resurgence is that the sector is unrelated to the energy/commodity sector.

With commodity trading, you may look for pullbacks to moving averages as opportunities to initiate or add trades.

Depending on your trading style, you may want to take partial profits from stocks that are up 10% or 15%, to make sure you stay away from trades with gains.

Don’t be stubborn. If your stocks are not performing, especially those in the lagging sectors, cut your losses and get out. You might think that the previous great growth leaders couldn’t fall any further, but as long as the stock is above zero, it can still drop 100%.

Keep building your watch lists. Buying opportunities can come and go quickly, while market conditions can change quickly. So you want to be ready.

Earnings season will start to pick up next week. Know when your holdings — or key competitors, supplies, or customers — are reporting results.

Read The Big Picture Every day to stay in sync with the trend of the market, stocks and leading sectors.

Please follow Ed Carson on Twitter at Tweet embed For stock market updates and more.

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