Dow Jones Futures: Market rally faces major test; Apple tops 4 Dow shares under the microscope

Dow futures rose slightly Sunday night, along with futures for the S&P 500 and Nasdaq futures. The stock market rally maintained support levels last week. Now can the S&P 500 move above the 200 day moving average in the coming days and weeks? apple (AAPL) can be a key.




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Apple stock held key levels and rose slightly even as the overall market fell. Like the S&P 500, the iPhone tech giant is returning toward its 200-day streak. A decisive move above this level could provide a buying opportunity. But another rejection could provide another opportunity to sell AAPL shares.

Meanwhile, fellow Dow Jones components Boeing (BA), c. B. Morgan Chase (JPM) And GS stock has been quietly on significant gains in the past several weeks, contributing to the Dow’s outperformance in the current market rally. BA stock is technically close to a traditional buy point. Goldman Sachs (p) is forming a deep base while JPM stock still has to do.

Dow jones futures today

Dow futures contracts changed little against fair value. S&P 500 futures rose. Nasdaq 100 futures rose 0.2%.

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


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Stock market rally analysis

Last week, the Dow Jones Industrial Average rose less than 0.1% in the past week Stock market trading. The S&P 500 fell 0.7% and the Nasdaq Composite fell 1.5%. Small-cap Russell 2000 shed 1.75%.

On Tuesday, November 15, the S&P 500 briefly crossed 4,000, approaching the 200-day moving average. This level is especially important because the benchmark index only once returned from the 200-day line on August 16, triggering another bear market move.

A decisive move above the 200-day line, which would also roughly coincide with the Retreating Peaks trendline from the all-time high on Jan. 4, would be a strong indication that the uptrend is more of a bear market rally.

The S&P 500 crossing the 200-day line would also be a positive backdrop for the blue-chip stocks, which are struggling near buy points amid a volatile market.

Meanwhile, the Russell 2000 fell back below the 200-day line last week, but will likely regain that level ahead of the S&P 500. The Dow Jones, backed by Boeing, Goldman, and JPM, is comfortably above 200-days. . But surpassing last week’s high would take the Dow back to 34,000 and just below its peak in August.

The Nasdaq, affected by the strong growth, is 8.3% below the 200-day line. A move above last week’s highs would be a good first step. Also positive: the 21-day moving average rose above the 50-day line on Friday.


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Thanksgiving week is not necessarily a great time for a big market move. Markets will be closed on Thanksgiving with a half-day session on Friday. Volume is likely to be light throughout the week. The next week ends with a bang. On December 1, investors will get personal consumption expenditures inflation data for October, along with the manufacturing index for November from ISM. The November jobs report is due on December 2. This news could have a significant impact on expectations of a Fed rate hike, bond yields and stock prices.

So it wouldn’t be surprising to see the major indices range trading over the next week or so. There’s nothing wrong with a little consolidation of the major indices and blue-chip stocks.

Apple Stock

Apple stock rose 1.1% last week to 151.29, after last week’s 8.2% rise. Stocks held their 50-day moving average, with the 21-day line above the 50-day mark. AAPL stock is modestly below the 200-day line. Oil giant Dow Jones traded for 200 days on Oct. 28 after earnings. But that turned out to be a great selling opportunity, as within a few days shares fell to their worst close since mid-June.

A decisive move above the 200-day line, perhaps beyond the October 28 high of 157.50, would provide an early entry into a bottom base starting on August 17. But if Apple stock reverses lower from that area, it could provide a shorting opportunity.

Apple’s success or failure at the 200-day streak could be key to the S&P 500’s own bid, and vice versa.

Boeing Stock

BA shares fell 2% to 173.89, after gaining 47% over five weeks. And while aerospace giant Dow Jones slumped on Oct. 26 on earnings, shares rebounded again, especially on the back of bullish cash flow a few days later.

Technically, Boeing’s stock is just under 173.95 cups of the norm Point purchase. But shares are 9.5% higher on the 200-day line and 19.5% on the 50-day line. Pausing around current levels could create a safer buying opportunity.

Boeing is expected to report a profit in 2023, ending four years of losses.

Goldman Stock

GS stock fell 1.55% to 379.20 last week. On the daily chart, the shares extend from 358.72 cup base Buy a point within a much larger consolidation. On the weekly chart, Goldman stock has 389.68 buy points over the course of a year mug with handle base, according to MarketSmith Analysis. But after posting a 28% gain over four consecutive weeks of gains, this is a pretty small handle. A longer, deeper handle would be useful, and let the 50-day line close the gap.

The line of relative strength its highest in four years, reflecting the outperformance of Goldman stock against the S&P 500. The RS line is the blue line in available charts.

JPM Stock

JPMorgan stock fell 1.1% to 133.84 last week. This is after an advance of 29.5% over six weeks. The stock has crossed its 50-day and 200-day lines, but it still has work to do. JPM stock could build a long and deep consolidation on the right side, or it could form a bottoming base.

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