Dow Jones futures were little changed overnight, as were S&P 500 and Nasdaq futures. The SEC said late Tuesday that it has yet to approve spot Bitcoin ETFs, saying its social media account X had been compromised.
X
The stock market rally was very mixed on Tuesday, largely maintaining Monday’s solid gains. The Nasdaq reversed slightly higher, fueled by Nvidia (NVDA), which reaffirms its leadership.
NVDA stock is now slightly extended from a buy zone. But parent Google Alphabet (GOOGLE), Palo Alto Networks (PANW), Data Dog (DOG), Uber Technologies (UBER) And PorteDash (HYPHEN) has settled in the purchasing areas.
On the other hand, You’re here (TSLA) has fallen below a key support level and is testing another.
Hewlett Packard Company (HPE) go buy Juniper Networks (JNPR) for 14 billion dollars, HPE said Tuesday evening.
Intuitive surgical (ISRG) reported preliminary fourth-quarter revenue up 17% to $1.93 billion, slightly above consensus. He attributed strong demand for procedures using its Da Vinci robotic surgical systems. ISRG stock jumped late.
Taiwan Semiconductor (TSM) will report its December and fourth quarter sales early Wednesday. The chip foundry manufactures chips for Apple (AAPL), Nvidia and many others. TSM stock fell 0.34% to 101.89 on Tuesday. Stocks are operating on a 105.52 handle point of purchase.
Uber, Datadog and Nvidia stocks are active MII classification. Nvidia shares are in progress Swing Trader. Nvidia, Datadog and DASH shares are on the stock market MII 50. Datadog and PANW stocks are on the IBD large cap 20. Palo Alto Networks was Tuesday IBD Stock of the Day.
The video embedded in the article discussed Tuesday’s market action and analyzed PANW stock, Howmet Aerospace (HMW) And Caméco (CCJ).
Dow Jones Futures Today
Dow Jones futures have lost a fraction of their fair value. S&P 500 futures rose slightly and Nasdaq 100 futures rose 0.1%.
Remember that overnight action Dow Jones Futures and elsewhere does not necessarily translate into real exchanges during the next regular class sotck exchange session.
Spotting Bitcoin ETFs
Meanwhile, the SEC is expected to approve spot Bitcoin ETFs, which are expected to have much greater institutional support. But the The SEC hasn’t done it yet.
Shortly after the close, the SEC account on social site X stated that the Bitcoin ETFs had been approved. But the financial watchdog agency said the account was compromised.
The deadline for SEC action would be Wednesday. Bitcoin price fell 3.25% to $45,558.86 as of 5 p.m. ET, following the SEC approval hoax. This was after reaching the highest levels since March 2021. Bitcoin moved back above $46,000 on Tuesday evening.
Cryptocurrency exchange Coinbase (PIECE OF MONEY) sank 4.7% on Tuesday and the bitcoin miner Digital marathon (MARA) slightly lower. Coinbase was down slightly after hours and MARA stock fell slightly.
COIN and Marathon shares jumped on Monday, both consolidating since hitting their 52-week highs in late 2023.
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Stock market rally
The stock market recovery has been mixed, but with a downward trend. Still, stocks largely held on to Monday’s gains.
The Dow Jones Industrial Average fell 0.4% on Tuesday stock market trading. The S&P 500 index fell 0.15%. The Nasdaq Composite Index edged up 0.1% after briefly testing the 21-day line.
The small-cap Russell 2000 index fell 1.05%, but closed just above the 21-day line. The losers easily outpaced the winners.
Nvidia climbs 1.7% to 531.40, up 8.2% already this week in high volume. Shares broke through a 505.48 buy point on Monday from a flat base but really erased several months of lateral action, fueled by announcements of new AI chips. NVDA stock has now surpassed the 5% hunting zone.
Tesla stock fell 2.3% to 234.96, undercutting the 50-day moving average but remaining above the 200-day line. The American electric vehicle giant still has a buy point of 265.13 of a double bottom base. But the relative strength line is approaching October lows, according to MarketSmith.
US crude oil prices rose 2.1% to $72.24 per barrel. The yield on the 10-year Treasury rose slightly to 4.02%.
AND F
Among growth ETFs, the iShares Expanded Tech-Software Sector ETF (VAT) rose 0.4%, with Palo Alto and DDOG both holding stakes in UGV. The VanEck Vectors Semiconductor ETF (SMH) climbed 0.3%. NVDA stock is SMH’s No. 1 stock.
SPDR S&P Metals & Mining ETF (XME) sank 1.45% and the SPDR S&P Homebuilders ETF (XHB) closed slightly lower. The Energy Select SPDR ETF (XLE) fell 1.6% and the Health Care Select Sector SPDR Fund (XLIV) was just below the break-even point
The Select Industrial Sector SPDR Fund (XLII) fell 0.3% and the Financial Select SPDR ETF (45) lost 0.7%.
Reflecting more speculative stocks, ARK Innovation ETF (ARKK) lost 1.55% while ARK Genomics ETF (ARKG) increased by 0.9%. COIN stock is the #1 stock among Ark Invest ETFs. TSLA stock is still a major part of Cathie Wood’s Ark.
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Actions in buying zones
Google shares rose 1.5% to 140.95, back above 139.42. cup with handle buy point and extending Monday’s rebound from the 10-week line. Volume was light this week, however. Also line of relative force has been a laggard since late October, meaning Google stock is lagging the S&P 500. On the upside, earnings and sales growth have accelerated over the past three quarters.
PANW stock jumped 3.8% to 300.42, rebounding above the 21-day line and breaking a short downtrend. This also extended Monday’s rebound from the 10-week line. All of these elements justify early entry. Palo Alto stock is starting to build a new base.
DDOG stock climbed 1.6% to 121.18, back above a 120.26 buy point after resuming the 21-day line Monday and rebounding from the 10-day line weeks. Investors could also use 124.69 as an alternative or complementary entry.
Uber shares gained 2.2% to 60.31, back above the 21-day line after Monday’s rebound from the 10-week mark. It was the first such pullback since a breakout in early November, providing a buying opportunity. Uber is working on a new basis.
DASH stock jumped 4.6% to 103.05, breaking a downtrend and providing early entry. DoorDash crossed the 21-day line on Monday, extending Friday’s move from the 50-day line.
Market Rally Analysis
The stock market rally on Tuesday largely reined in Monday’s strong gains, while many leaders continued to advance. Investors could add exposure, taking advantage of buying opportunities. How aggressive you want to be depends on your investing style and how much cash you have.
Don’t chase extended stocks. What investors should do is keep your watchlists updated so you can profit from stocks like Nvidia as they break out.
Read The big picture every day to stay in tune with the direction of the market and the main values ​​and sectors.
Please follow Ed Carson on the discussions at @edcarson1971X/Twitter at @IBD_ECarson and Bluesky at @edcarson.bsky.social for stock market updates and more.
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