Tesla Model S Plaid Deliveries Start In First Gear; S&P 500 Hits High; Google, RH In Buy Zones| Investor’s Business Daily


Dow Jones futures rose slightly Friday morning, along with S&P 500 futures and Nasdaq futures. The stock market rally on Thursday shrugged off a hot inflation report, with the S&P 500 index hitting a record high and Treasury yields fresh lows.




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A bipartisan group of senators announced an infrastructure deal late, but will party leaders back it? Tesla CEO Elon Musk held a low-key, no-surprise Model S Plaid event Thursday night, announcing that deliveries will start with a slow ramp up.  Tesla stock rose slightly early Friday after reclaiming a key level Thursday.

In Thursday’s session, several stocks broke out or flashed buy signals, including RH (RH), Signet Jewelers (SIG), Zscaler (ZS), CrowdStrike (CRWD), Google parent Alphabet (GOOGL) and Adobe (ADBE).

Meme stocks sold off Thursday, including GameStop (GME), AMC Entertainment (AMC), Clover Health (CLOV), Bed Bath & Beyond (BBBY) and Workhorse Group (WKHS).

Some bounced back somewhat, including GME stock and AMC.


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Homebuilders fell sharply, including Century Communities (CCS), LGI Homes (LGIH) and D.R. Horton (DHI). That continues their weak performance despite sliding Treasury yields.

Several hot stocks sold off as share offerings priced, after the sale plans knocked them earlier this week. Those include Celsius (CELH), PLBY Group (PLBY) and Rev Group (REVG). All three lost 15% or more. CELH stock has a clearly failed breakout while PLBY stock wiped out an early entry. REVG stock broke below the low of a base.

Adobe and Google stock are on IBD Leaderboard and Long-Term Leaders. Google, CELH stock and CRWD stock are on IBD 50.

Bipartisan Infrastructure Deal?

A bipartisan group of 10 senators — five from each party — say they’ve reached a “tentative understanding” on an infrastructure spending deal without explicit tax increases. The package reportedly includes $579 billion in additional spending. Including baseline outlays, spending would be $974 billion over five years or $1.2 trillion over eight. The senators suggest indexing the gas tax to inflation, providing a de facto increase, and using unused Covid funds.

But it’s unclear if President Biden or congressional leaders from either party will go back it.

Dow Jones Futures Today

Dow Jones futures rose 0.25% vs. fair value. S&P 500 futures climbed 0.15% and Nasdaq 100 futures advanced 0.15%.

The 10-year Treasury yield kept sliding, dipping two basis points to 1.44% after hitting 1.43% overnight.

Copper futures rose 2%, a positive sign for various mining stocks.

Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.


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Stock Market Rally

The stock market rally rallied at Thursday’s open but then pulled back in late morning, with the Nasdaq briefly turning negative. But the major indexes rebounded.

The 10-year Treasury yield initially rose modestly on the hot inflation report, but reversed lower to 1.46%, setting new three-month lows. Bond traders do not appear concerned with inflation or the Federal Reserve, which meets next week.

The Dow Jones Industrial Average edged up 0.1% in Thursday’s stock market trading, with Apple (AAPL) and Caterpillar (CAT) weighing on blue chips. The S&P 500 index climbed 0.5%. The Nasdaq composite advanced 0.8%. The small-cap Russell 2000 retreated 0.8%.

Among the best ETFs, the Innovator IBD 50 ETF (FFTY) retreated 1.7% due to some sharp individual losers. The Innovator IBD Breakout Opportunities ETF (BOUT) rose 0.5%. The iShares Expanded Tech-Software Sector ETF (IGV) gained 1.8%. ADBE stock is the No. 1 component in IGV, which also owns CRWD and ZS stock. The VanEck Vectors Semiconductor ETF (SMH) rose 1.3%.

SPDR S&P Metals & Mining ETF (XME) dipped 0.4% and Global X U.S. Infrastructure Development ETF (PAVE) slid 1%. U.S. Global Jets ETF (JETS) also fell 1%. SPDR S&P Homebuilders ETF (XHB) retreated 1.1%, with the ETF losses minimized because RH stock is the No. 1 component.

Reflecting more-speculative story stocks, ARK Innovation ETF (ARKK) popped 1.9% and ARK Genomics ETF (ARKG) 2.7%. ARKK closed just below its 50-day and 200-day lines, while ARKG reclaimed those levels on Wednesday. Tesla stock is the No. 1 holding for ARK Invest across its ETFs.


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Tesla Model S Plaid Event

Tesla (TSLA) finally held its Model S Plaid event Thursday night, touting the revamped luxury electric sedan.

The Model S Plaid can go from a rolling start to 60 miles per hour in just under two seconds. But Plaid deliveries will take a lot longer to pick up.

At the end of the brief event, Elon Musk said Tesla will begin deliveries of 25 Plaid sedans “now.” He said that’ll soon pick up to hundreds per week, reaching 1,000 per week in the third quarter.

The EV giant paused Tesla Model S and X production for months as it switched over to “Plaid” versions. Elon Musk originally said in late January that Model S Plaid deliveries would begin in February.

The Model S Plaid looks very similar to the decade-old Model S on the outside. But the interior has been refreshed somewhat. Elon Musk touted the new screens and sound system, as well as the Plaid’s video game capabilities.

On Wednesday, Tesla raised the price of its high-end Plaid by $10,000 to $129,990. But that top-of-the-line Plaid won’t hit 200 mph, as previously claimed, until the right tire and wheel mix is available in the fall.

On Sunday, Musk canceled the Plaid Plus, saying the Plaid is “so good.” The Plaid Plus, which was priced well above the Plaid, was supposed to have a range topping 500 miles.

The Model S Plaid Plus cancellation could reflect further trouble with mass producing 4680 battery cells. If so, that would be a bad sign for the Tesla Semi and Cybertruck, both of which are slated to use the 4680 cells.

The Plaid event had no surprises about batteries, the Cybertruck or any other Tesla vehicle or project.

Tesla stock climbed slightly in premarket trade.

On Thursday, Tesla stock popped 1.9% to 610.12, reclaiming its 200-day line. TSLA stock remains below its sliding 50-day line.

RH Stock

RH stock surged 16% to 707.14, rebounding from its 50-day line and breaking a trend line. The upscale furniture retailer reported booming earnings and revenue growth, guiding higher on sales and margins. RH stock is 8.1% above its 10-week line, so it’s actionable here. But investors could wait to see if it forms a handle. RH stock is on track to have a base with a 733.15 buy point after Friday.

Signet Stock

Signet stock vaulted from its 50-day line to a record high, clearing a flat base with a buy point of 68.39/68.46. Shares hit an intraday high of 74.80 but then slashed gains before rebounding somewhat. Signet stock closed up 14% to 69.58.

The relative strength line for SIG stock hit a new high. The RS line, the blue line in the charts provided, tracks a stock’s performance vs. the S&P 500 index.

Zscaler Stock

Zscaler stock popped 4.55% to 204.91, moving above a double-bottom buy point of 199.60, after hitting resistance multiple times at just below 200. The last time was on May 26, following strong Zscaler earnings. ZS stock broke a tiny trend line earlier in the week.

The RS line for Zscaler stock is off the February peak but is at a three-month high.

CrowdStrike Stock

CrowdStrike, another cybersecurity play with a similar chart to ZS, jumped 6.85% to 228.60, breaking past resistance right around 227. CRWD stock was actionable from a short trend line break; again, much like ZS stock. The official buy for CRWD stock is 251.38.

Adobe Stock

Adobe stock rose just over 4% to 535.52, a record close and clearing a 525.54 early entry in a nine-month consolidation. ADBE stock is 5.8% above its 10-week line, which can be an attractive buying area for Long-Term Leaders. But, Adobe earnings are due June 17, giving new investors little time build a cushion in ADBE stock.

The RS line for Adobe stock is trending higher again, but has fallen significantly since last September.

Google Stock

Google stock edged up 1.1% to 2,435.13, edging past a 2,431.48 buy point from a flat base. The RS line hit a record high along with GOOGL stock, giving the weekly MarketSmith chart a very bullish blue dot.

GME Stock

GME stock plunged 27% to 220.39. GameStop stock is now down 11% for the week despite rising in the prior three sessions.

Late Wednesday, GameStop topped earnings views and named two Amazon execs to be its CEO and CFO. But it also said it might sell 5 million shares of GME stock, at a time when investors are punishing stock offerings. GameStop also disclosed an SEC probe related to trading in the stock.

Executives also again didn’t take questions in a brief GameStop earnings call.

Other Meme Stocks

Clovis Health slumped 15% to 14.34 after reversing from record highs Wednesday to close down 24%. While CLOV stock hasn’t erased Tuesday’s 86% gap-up surge, it has fallen below that day’s low. So anyone who actually bought CLOV stock on Tuesday is now down.

AMC stock skidded 13% to 42.81. Since the wild June 2 gap up, AMC stock has remained within that day’s trading range.

WKHS stock slid 11%. BBBY stock fell 8%.

Most investors should avoid meme stocks. The wild moves offer the potential for huge gains but also massive losses. Given the weak fundamentals and often-poor company prospects, most of these stocks are likely to see huge declines over time.

But if you’re going to play meme stocks, buy them as they clear some plausible resistance on a chart. Do not chase them. Consider using options so you can size your potential loss up front. Consider at least partial profits quickly and be ready to cash out before seeing a massive gain turn into a loss.

Market Rally Analysis

The S&P 500 index finally moved above its early May peak to an all-time high, despite the late morning wobble. The Dow Jones and Nasdaq are closing in on record territory. The Russell 2000 is pulling back but after a strong run.

However, the S&P 500 has been nudging higher, not showing real power in the past couple of weeks. Tracking volume on the major indexes is tricky when meme stocks are in play, with CLOV stock trading more than 700 million shares on Tuesday.

But new buying opportunities continue to appear, as RH, Zscaler and even Adobe stock show. Some stocks rebounded bullishly from early losses, including Roblox (RBLX). Miners and many other stocks are quietly forming positive consolidations.

Chip-gear makers and many medicals had solid sessions.

But it’s still a tricky stock market rally.

Homebuilders are breaking down despite falling Treasury yields. Financials are struggling. After opening higher as the 10-year yield nudged up, they retreated once again as interest rates hit fresh lows.

The brutal sell-offs in CELH stock and others announcing and pricing share offerings is something to note. Sometimes, stocks quickly shake off share offering news, but not always. With a lot of new IPOs in recent months, investors have to be ready for share offerings and lock up expirations.


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What To Do Now

Buying as close to the buy point as possible, at least with your initial position, is crucial in the current market environment. As a stock gets extended, don’t chase it.

To avoid missing out, do your homework. Build up those watchlists, taking a closer look at a select handful of nearly actionable stocks. Stay engaged with the market, using alerts when possible to catch breakouts as they’re happening. That way, you can buy the right stocks at the right time.

Even if you do everything right, some of your buys are going to struggle or fail. The key is to keep those losses small.

Read The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.

Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.

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Thank you for stopping by and checking out this post on current World Business news published as “Tesla Model S Plaid Deliveries Start In First Gear; S&P 500 Hits High; Google, RH In Buy Zones| Investor’s Business Daily”. This post was posted by My Local Pages Australia as part of our national news services.

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Mumbai’s 12 police zones to fine 1,000 maskless people per day


50 per cent of the fine collected from mask rule violators will be used for police welfare activities and the remaining will be given to BMC

Mumbai: In a bid to intensify the crackdown on people not wearing masks, Mumbai Police Commissioner Param Bir Singh has asked the city police force to collect fine from at least 1,000 such violators per day in each zone, an official said on Wednesday.

Mumbai is divided into 12 police zones and the city police are authorised to collect a fine of Rs 200 from people not wearing masks, as mandated under COVID-19 norms.

 

To prevent the spread of COVID-19 in the metropolis, Singh has asked the city police force to take strict action against those not wearing masks in public places, the official said.

He said Singh recently asked all senior inspectors to improve the performance of their respective police stations and achieve the zonal target of 1,000 such cases per day.

The Mumbai police are making efforts to increase the awareness among citizens about containing the spread of COVID-19, city police spokesperson S Chaitanya said.

“The idea behind setting the target of 1,000 cases for each zone per day is to sensitise people about following guidelines issued by the government about wearing mask and maintaining physical distance in public places,” he said.

 

The official said 50 per cent of the fine collected from mask rule violators will be used for police welfare activities and the remaining amount will be given to the Brihanmumbai Municipal Corporation.

Since the enforcement of lockdown in March last year, the city police have so far registered cases against 57,692 people under Indian Penal Code Section 188 (disobedience to order duly promulgated by public servant) for violating various COVID-19 prevention norms, another official said.

Out of these people, 25,947 were arrested and later released on bail, he said.

Since April 18 last year, 10,490 people were penalised for not wearing masks in public places, he added.

 

On Tuesday, Mumbai reported 849 new cases of COVID-19, raising the tally to 3,27,619.

The city has so far reported 11,476 deaths due to the disease, as per official figures.

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NY mandates dance ‘zones,’ distancing when weddings resume


New York’s new coronavirus-era dance rules aren’t exactly “Footloose” strict, but don’t plan on cutting loose and kicking off the Sunday shoes with just anybody

The state says that when wedding receptions resume next month, guests will be allowed to hit the dance floor only with members of their immediate party, household or family seated at the same table.

Even then, the rules say, dancers must wear face masks and stay within their own “dancing areas or zones” — spaces that should be at least 36 square feet (3.3 square meters) in size and positioned at least 6 feet (2 meters) apart from other dance zones and tables.

There’s no switching dance zones, either.

Happy couples can still take a twirl for a ceremonial first dance, and other couples can join in, but they must all stay 6 feet apart.

Live music performers and other entertainers are allowed, but if they’re unmasked or playing a wind instrument, they must be separated from attendees by 12 feet (4 meters) or an appropriate physical barrier.

Gov. Andrew Cuomo previously announced that weddings can begin again on March 15. Venues will be restricted to 50% of capacity, up to 150 guests, and all must be tested for coronavirus beforehand.

Thank you for stopping by to visit My Local Pages and reading this news release regarding International and USA Business and Political updates called “NY mandates dance ‘zones,’ distancing when weddings resume”. This story was brought to you by My Local Pages Australia as part of our USA news services.

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NT reduces Greater Sydney hotspot zones despite two new coronavirus cases in northern beaches



The NT Government has reduced the Greater Sydney hotspot zone to the NSW local government areas of Blacktown, Canada Bay, Canterbury-Bankstown, Fairfield, Paramatta, Cumberland Council, Inner West council, Burwood and Strathfield.

The declaration means areas of Sydney’s northern beaches are now no longer designated as hotspots for the purposes of travel to the Northern Territory.

The change comes despite an announcement from NSW health authorities this morning that two new cases of coronavirus have been recorded in the northern beaches — a man and a woman in their 40s who are household contacts.

In a press conference this morning, NSW Premier Gladys Berejiklian said the source of the new northern beaches cases were still under investigation.

“Of course we’re concerned that not all the answers are in there in terms of how the disease got from that first case out into the northern beaches and how those superspreading events occurred,” she said.

NSW recorded five new cases in total overnight and Ms Berejiklian said authorities were “picking up infections from people who have been in isolation in quarantine and in the community in isolation”.

“We’re still picking up cases in the last days of [people] being in isolation,” she said.

The Northern Territory Chief Health Officer this morning said he would continue to review and assess the health situation across NSW and a hotspot could be declared “at any time if required”.

Northern Territory Chief Minister Michael Gunner said he does not yet know how many people will be released from NT quarantine facilities today as a result of the hotspot reduction.

A flight from Sydney carrying 66 people was scheduled to arrive in Darwin this morning.

Anyone who arrives from a designated hotspot area is required to enter mandatory supervised quarantine at a personal cost of $2,500.

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Dow Jones Futures: Stock Market Rally Caps 2020 As Tesla, Nio Extend Gains; Five Stocks Enter Buy Zones


Dow Jones futures were little changed Thursday morning, along with S&P 500 futures and Nasdaq futures, signaling slim gains to finish off an amazing 2020.




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The stock market rally had a quietly strong Wednesday, even though the major indexes closed with slim gains. There were several breakouts, while EV stocks such as Nio (Nio) and Tesla (Tesla) powered higher, and small caps and growth names outperformed overall. Meanwhile, Bitcoin surged yet again to a fresh high.

Tesla and Nio stock continued to climb early Thursday, both boosted by analyst comments.

In Wednesday’s session, Visa (V) broke out of a base, with archrival Mastercard (MA) tripping some buy signals. Taiwan Semiconductor (TSM), copper miner Freeport McMoRan (FCX) and China e-commerce play Vipshop (VIPS) cleared three-weeks-tight patterns, on a good day for chipmakers, cyclical stocks and Chinese internet plays, respectively. Walt Disney (DIS) popped out of a short consolidation.

Meanwhile, Nio stock is still in buy range from a 10-week line rebound and other bullish signals. While 2020 IPOs Li Auto (LI) and Xpeng Motors (XPEV) face big tests, BYD Co. (BYDDF) is setting up in a short consolidation as Tesla stock rallied to a record high. All may get a sales boost from Shanghai extending a license plate policy that encourages EV sales.

Finally, tech giants lagged somewhat after big gains Monday. Apple stock and Microsoft (MSFT) pulled back. But that could be a positive pause if they form handles.


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Tesla, Apple, Microsoft and TSM stock are on IBD Leaderboard. FCX stock is on SwingTrader. Microsoft and Mastercard stock are on IBD Long-Term Leaders, while Visa stock essentially is a Long-Term Leader. Taiwan Semi and VIPS stocks are on the IBD 50. Tesla stock and FCX are on the IBD Big Cap 20.

Microsoft stock, Apple, Visa and Disney are all Dow Jones components.

Dow Jones Futures Today

Dow Jones futures fell about 0.1% vs. fair value. S&P 500 futures edged lower. Nasdaq 100 futures climbed 0.1%.

Bitcoin price ran above $29,000 overnight, but has pulled back Thursday morning to modestly above $28,000.

The official China manufacturing indexes dipped 0.2 point in December to 51.9, still indicating modest growth.

At 8:30 a.m. ET, the Labor Department will release weekly jobless claims figures.

Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.


Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live.


Coronavirus News

Coronavirus cases worldwide reached 83.20 million. Covid-19 deaths topped 1.81 million.

Coronavirus cases in the U.S. have hit 20.21 million, with deaths above 350,000.

The U.K. approved the AstraZeneca coronavirus vaccine on Wednesday. The AstraZeneca (AZN) and Oxford vaccine is faster and easier to make than the Pfizer/BioNTech (BNTX) and Moderna vaccines, as well as being easier to store. So it’ll be a major player in vaccinations, especially in developing nations.

A few batches of the Moderna (MRNA) coronavirus vaccine arrived in Texas last week outside of the proper temperature range. The Pfizer (PFE) vaccine, meanwhile, requires ultracold storage.

Stock Market Rally

The stock market rally had slim gains for the major indexes, but small caps and growth names did well.

The Dow Jones Industrial Average rose 0.2% in Wednesday’s stock market trading. The S&P 500 index edged up 0.1%. The Nasdaq composite advanced 0.15%. The Russell 2000, which lost 1.85% on Tuesday, rebounded for a 1.05% gain.

Bitcoin price shot up as high as $29,000 during Wednesday’s stock market trading hours, clearing the early Sunday peak above $28,000. Bitcoin and other cryptocurrencies have been soaring, especially in the last couple of months. Grayscale Bitcoin Trust (GBTC), one way for stock investors to play Bitcoin, leapt 9.6% to a new closing high Wednesday.

Apple stock dipped 0.85% to 133.72. On Tuesday, the iPhone maker hit a record 138.79 high, clearing a 138.08 buy point, before reversing modestly lower. A high handle at these levels could be useful, shaking out weak holders with Apple stock up 12.3% so far in December.

Microsoft stock retreated 1.1% to 221.68 after reversing slightly lower Tuesday. A handle at these levels, near another resistance area, would provide a lower official buy point for MSFT stock.

Growth names generally did well, especially chip names. Software and red-hot IPOs were mixed.

Among the best ETFs, the Innovator IBD 50 ETF (FFTY) rose 1.5%, while the Innovator IBD Breakout Opportunities ETF (BOUT) jumped 2.3%. The iShares Expanded Tech-Software Sector ETF (IGV) was essentially flat, down 4 cents. Microsoft stock is a major IGV holding. The VanEck Vectors Semiconductor ETF (SMH) gained 1.85%, with TSM stock a top component.

TSM Stock Headlines Chips

Taiwan Semiconductor stock rose 3.2% to 108.90, clearing a 107.94 buy point from a three-weeks-tight. Investors could have started a position in TSM stock on Dec. 24. The relative strength line for TSM stock is at a record high, reflecting its outperformance vs. the S&P 500 index.

Among other chip names acting well, Monolithic Power (MPWR) is consolidating right at record highs and a buy point. AMD (AMD), Applied Materials (AMAT), Lam Research (LRCX) and Entegris (ENTG) are finding support or rebounding from their 21-day exponential moving averages. All five are on the IBD 50, like TSM stock.

Visa Stock Breaks Out

Visa stock rose 1.9% to 218.36, clearing a 217.75 buy point from a flat base that could also be viewed as a handle to a consolidation going back to early September. Investors could have started a position in Visa stock on Monday, as it broke a short trend line.

Mastercard stock climbed 2.6% to 355.55. The official buy point is 367.35, though 357.10 could be viewed as a handle entry. MA stock already moved above some early entries, including 348.09.

For both Visa and Mastercard stock, the relative strength lines have been lagging while the Relative Strength Ratings are lackluster at best. Investors buying these stocks are betting on an economic and travel rebound in 2021, boosting transactions, including lucrative cross-border payments.

Visa was Wednesday’s IBD Stock Of The Day.

FCX Stock

FCX stock jumped 7.2% to 26.53 on Wednesday, vaulting above a 25.53 three-weeks-tight buy point, according to MarketSmith analysis. That follows a powerful run after bottoming at 4.82 on March 18. The copper and gold miner is benefiting from stronger demand and prices as the global economic outlook improves.

Technically, FCX stock is just within the 5% chase zone, which runs to 25.80. But investors should try to buy as close as possible to a buy point in a three-weeks tight. Freeport is looking a little extended.

Among related stocks, Caterpillar (CAT) rose 1.9% to 180.04, rebounding from its 10-week line as the Dow giant moves within its own tight pattern.

VIPS Stock

VIPS stock jumped 6.4% to 27.76, clearing a monthlong consolidation just above a prior base. That pause included a three-weeks-tight. VIPS stock, like FCX, might be a little extended now.

Vipshop, as a smaller Chinese e-commerce play, may be less affected by regulators cracking down on giants such as Alibaba (BABA).

BABA stock rose 0.9%, continuing a rebound from a big sell-off. JD.com (JD) popped 3.9%, actionable as it clears short-term resistance and continues a move above its 10-week line. Pinduoduo (PDD) ran up 7.8% to a fresh high, looking extended. So do Baidu (BIDU) and Bilibili (BILI), which shot up 13% and 14%, respectively, on Wednesday.

Disney Stock

Disney stock rose 2.2% to 181.17, clearing a short consolidation that was almost a three-weeks-tight. This is a possible area for DIS stock investors to add a few shares, but probably not to start a new position.

The recent consolidation follows a Nov. 9 gap-up on the initial bullish Pfizer coronavirus news, followed by further big DIS stock gains.

Nio Stock, China EV Stocks

Nio stock jumped 4.85% to 48.38. After again testing its 10-week moving average on Tuesday and nearly touching down on its 50-day line for the first time in months, Nio stock is now 8.5% above its 10-week line, still actionable. It’s also broken above a downward-sloping trend line, offering another early entry. In another week, Nio stock could have a new base with a 57.30 buy point.

As for rival China EV startups, XPEV stock rose 1.8% and Li Auto 1.4%. The former is just above its 50-day line but below its 10-week. Li stock is slightly below both, though well off weekly lows.

BYD Group, a more-established EV maker and big battery producer, rose 2.2% to 25.71. BYD stock, which is listed in Hong Kong and trades over the counter in the U.S., has formed a handle in a short consolidation, offering a 26.30 buy point.

Finally, Tesla stock rallied 4.3% to 694.78, its fifth straight gain and hitting a record 696.60 intraday. TSLA stock is now roughly flat since entering the S&P 500 index before the Dec. 21 open at 695.

Bank of America raised its Nio stock price target to 59 from 54.70, citing the Jan. 9 Nio Day event and other factors. Masterlink Securities initiated Tesla stock with a buy rating and 750 price target.

Nio rose 1% early Thursday, while Xpeng and Li Auto stock climbed 2%. Tesla advanced more than 1% to top 700 for the first time.

Shanghai Surprise for China EV Sales

Shanghai on Wednesday extended a policy offering free license plates for new energy vehicles from year-end to the end of February. NEV vehicles include electric cars, hybrids and fuel-cell vehicles. Obtaining license plates in major Chinese cities can be very expensive, and limited. The Shanghai NEV license plate policy fueled huge November sales gains for Tesla, Nio, Xpeng, Li Auto and BYD Group, with expectations for more of the same in December.

After February, the EV sales picture could be more complicated, with the risk of overall supply exceeding demand. Tesla presumably will be ramping up made-in-China Model Y output, while Volkswagen should be doing the same for the rival ID.4. Nio, Li Auto, Xpeng, BYD and other legacy automakers and startups also will be have higher EV production.

In the short run, Nio, Xpeng, Li Auto and BYD should release December production and deliveries data by the end of next week. Tesla will release global production and deliveries figures for the fourth quarter by late next week.

Read The Big Picture every day to stay in sync with the market direction and leading stocks and sectors.

Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.

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HBC attempt to overturn lockdowns in COVID hot zones dismissed by Ontario court


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“Do I think slamming small retail and pushing people to (big) box stores, particularly those attached to shopping mall common areas, is dumb? Yes, I think it’s very dumb,” said David Fisman, a professor of epidemiology at the University of Toronto’s Dalla Lana School of Public Health.

He said the probable role of large crowded retail spaces in the spread of COVID-19 is not well documented in Ontario, and added that the court challenge was a welcome development.

“It’s great that this stuff is going through the courts and we can see where they come down on public health restrictions,” Fisman said.

“It’s been abundantly obvious for some time now that the best thing we could do for retail and the economy was really good disease control, proactive versus reactive… And there just hasn’t been an understanding of that at the provincial level.”

Fisman said “closed, close, crowded spaces with continuous exposure appear to pose greatest risk” for the spread of COVID-19, including in stores. However, he said heavy turnover and the way spread is being tracked in Canada, particularly in Ontario, makes it very difficult to determine if cases are occurring in large retail outlets.

“Store clusters are hard to see. But, yes, there are a number of super-spreader events that have occurred (elsewhere in the world) and of course we’ve had grocery store clusters here in Toronto,” he said.

Fisman pointed to an outbreak in a Walmart in the United States as an example, and said there should be more messaging that the virus can spread through small airborne droplets or aerosols — and that poorly fitted or improperly worn masks don’t provide complete protection.

“If you have an aerosolizing event (for example, a bad mask wearer yelling at kid in aisle, pre-symptomatic) and that generates some amount of ‘buoyant’ aerosol, you potentially have a super-spreader event because now you’ve got lots of other folks wandering through that ‘shared air’,” he said.

Fisman said installing QR (contactless quick response) devices at store entrances to collect information about customers, as hotspots in Australia have mandated for hospitality establishments, would allow tracing to be backward-looking and identify more cases and clusters.



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Dow Jones Futures Fall Amid Stimulus Talks; 5 Tech Giants In Or Near Buy Zones


Dow Jones futures, along with S&P 500 futures and Nasdaq 100 futures, traded mixed amid congressional stimulus talks late Tuesday. Dow Jones leader Apple surged past a new buy point, while Tesla-rival Nio rebounded sharply from a key support level during Tuesday’s coronavirus vaccine- and stimulus-fueled stock market rally.




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Tech giants Advanced Micro Devices, Apple, DraftKings, Nio and PayPal are in or near new buy zones in the current stock market rally.

The Dow Jones Industrial Average advanced 1.1%, or 337 points. The S&P 500 rallied 1.3%, while the tech-heavy Nasdaq composite moved up 1.25%.

Among the Dow Jones leaders, Apple (AAPL) surged 5%, while Microsoft (MSFT) eased less than 0.1%. Tesla (TSLA) reversed from early gains to fall 1%, just shy of all-time highs.

Stocks in or near buy zones in the current stock market rally are Advanced Micro Devices (AMD), Apple, DraftKings (DKNG), Nio (NIO) and PayPal (PYPL).

Late Tuesday, marijuana stocks Aphria (APHA) and Tilray (TLRY) soared on a report that the two Canadian cannabis producers were discussing a merger that would create the nation’s biggest weed company — but potentially move its new headquarters to the U.S.

Aphria stock jumped over 7%, while Tilray surged 23% in extended trade.

Apple, Microsoft and Tesla are IBD Leaderboard stocks. Apple was Monday’s IBD Stock Of The Day, while AMD was featured in this week’s Stocks Near A Buy Zone column. Nio is a new IBD SwingTrader idea.

Dow Jones Futures Today: Stimulus Deal Talks

Late Tuesday, Dow Jones futures fell 0.1%, while S&P 500 futures edged lower. Nasdaq 100 futures were up 0.2% vs. fair value. Remember that trading in Dow Jones futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

House Speaker Nancy Pelosi met with congressional leaders at 4 p.m. ET to try to finalize a coronavirus stimulus package. Late Tuesday, House Minority Leader Kevin McCarthy said congressional leadership will leaders will again meet at 7:30 p.m. Tuesday to continue stimulus talks.

“We’re not leaving here without a Covid package,” Senate Majority Leader Mitch McConnell told reporters Tuesday. “It’s not going to happen. We’re going to stay here until we get a Covid package, no matter how long it takes.”

Late Monday, a bipartisan group of senators revised their stimulus deal proposal by breaking it in two bills. One bill would have $748 billion for generally popular ideas, including $300 a week in jobless benefits and another $300 billion for business loans.

Another $160 billion bill would include the divisive issues of business liability protection and money for state and local governments.

Among exchange traded funds, Innovator IBD 50 (FFTY) rose 1.65% Tuesday. The Nasdaq 100-linked Invesco QQQ Trust ETF (QQQ) traded up 1.1%. Meanwhile, the SPDR S&P 500 ETF (SPY) climbed 1.35%.

Amid the coronavirus stock market rally, the tech-heavy Nasdaq is up 40.4% for the year through Tuesday’s close. The S&P 500 is up 14.4%, while the DJIA is up 5.8% year to date, through the Dec. 14 close.

U.S. Stock Market Today Overview

IndexSymbolPriceGain/Loss% Change
Dow Jones(0DJIA)30200.76+339.21+1.14
S&P 500(0S&P5)3694.74+47.25+1.30
Nasdaq(0NDQC )12595.06+155.02+1.25
Russell 2000 (IWM)194.83+4.90+2.58
IBD 50 (FFTY)40.67+0.65+1.62
Last Update: 4:26 PM ET 12/15/2020

Coronavirus Updates

According to the Worldometer data tracker, the cumulative number of confirmed coronavirus cases in the U.S. topped 16.9 million on Tuesday. Total virus-related deaths rose past 308,000.

The cumulative total of worldwide Covid-19 cases confirmed since the start of the outbreak topped 73.3 million Tuesday, with more than 1.63 million virus-related deaths.

Coronavirus Stock Market Rally

November was a key month for the stock market, after IBD’s The Big Picture flagged a new uptrend following the market’s bullish follow-through day on Nov. 4. Meanwhile, December sees the stock market near record highs, although the S&P 500’s slip on Monday raised its distribution day count to five.

Monday’s Big Picture commented, “With that many distribution days, you can start making a case that the market trend is turning bearish. But that doesn’t tell the whole story. The Nasdaq is still pretty clean of distribution, and most top-rated stocks continue to act well. Among those that have broken out of bases the past several weeks, nearly all remain above buy points.”


Stock Market ETF Strategy And How To Invest


Dow Jones Stocks: Apple Hits New Buy Point

Apple broke out above another aggressive entry at 125.49. Shares surged 5% Tuesday after Nikkei reported that Apple plans to make up to 96 million iPhones in the first half of 2021, a 30% year-over-year increase. It cited strong demand for Apple’s first 5G smartphones, the iPhone 12 series.

Apple was Monday’s IBD Stock Of The Day.

The conventional buy point, for now, is 138.08, according to MarketSmith chart analysis.

The blue chip giant is the No. 1-performing Dow Jones stock for 2020, with a 74.2% advance through Tuesday.

Stocks In Or Near Buy Zones: AMD, DraftKings, PayPal

Advanced Micro Devices broke out above a 96.47 alternative buy point Tuesday with a 2.5% advance. Shares are in the 5% buy zone that goes up to 101.29.

AMD stock broke out above an 88.92 buy point in a double bottom on Nov. 30 and is extended from that entry.

According to IBD Stock Checkup, AMD stock boasts a perfect 99 IBD Composite Rating. The Composite Rating — an easy way to identify top growth stocks — is a blend of key fundamental and technical metrics to help investors gauge a stock’s strengths.

DraftKings continues to build a cup with handle with a 53.82 buy point. Shares slipped 0.2% Tuesday, and are about 6% away from the potential entry Tuesday.

A key flaw is the stock’s lagging relative strength line. The RS line remains far from its old highs. Ideally, it should be approaching new highs ahead of a potential breakout.

PayPal is just above its 215.93 buy point in a cup base, according to MarketSmith chart analysis. Shares moved up 0.4% Tuesday and are in the 5% buy range that goes up to 226.73.

PayPal ranks No. 6 on the IBD 50 and No. 3 on the Big Cap 20.


IBD Live: A New Tool For Daily Stock Market Analysis


Nio Stock

Tesla-rival Nio rebounded from its 10-week moving average line — a key support level — with a 6.2% rise Tuesday. A potential flaw is the lack of strong volume during Tuesday’s advance. The solid rebound from the support area places the stock in a new buy area.

Nio in a new IBD SwingTrader idea.

Tesla Stock

IBD Leaderboard stock Tesla reversed from early gains to slide 1% Tuesday, ending just off its record highs.

On Nov. 18, shares broke out above a 466 buy point in an awkward cup with handle and are more than 30% from the buy point.

Dow Jones Leaders: Microsoft

Among the top Dow Jones stocks, software giant Microsoft moved down less than 0.1% Tuesday. Shares are trying to move back above their 50-day line, but are finding resistance.

Year to date, Microsoft is one of the top Dow Jones stocks, advancing 35.8% through the Dec. 15 close.

Stock Market Rally: What To Do Next

Investors should continue to use the stock market’s strength to buy breakouts. Be patient and wait for powerful breakouts instead of chasing extended stocks. New buying opportunities occur almost every day, like AMD, Apple and Nio. If these new breakouts work, then add more exposure. But if breakouts start to fail, then you can back away.

In particular, focus on stocks with strong relative strength. Find them by using the relative strength line. The RS line measures a stock’s price performance vs. the S&P 500. If the stock is outperforming the broader market, then the RS line angles upward. If a stock is performing worse than the broad market, then the line will point lower.

Stocks to watch include IBD Long-Term Leaders, companies with stable earnings growth and price performance. Nice (NICE) and Intuit (INTU) are the two most recent additions to the list on Dec. 4.

Nice is finding support around it 10-week moving average and is just above a 238.45 buy point in a flat base. A new flat base shows a 255.58 buy point. Meanwhile, Intuit is barely extended past the 5% buy zone above a 354.08 buy point in a cup with handle.

Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones futures.

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Dow Jones Futures Rise, As Apple Nears New Buy Point; 4 Top Stocks In Or Near Buy Zones


Dow Jones futures, along with S&P 500 and Nasdaq 100 futures, were slightly higher late Tuesday, as the United Kingdom began to roll out Pfizer’s coronavirus vaccine. Dow Jones leader Apple is approaching another early buy point, while Tesla raced to all-time highs despite a $5 billion share offering.




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Stock leaders Chipotle Mexican Grill, DraftKings, PayPal and Twilio are in or near new buy zones in the current stock market rally.

The Dow Jones Industrial Average advanced 0.35%, or 104 points. The S&P 500 rallied 0.3%, while the tech-heavy Nasdaq composite moved up 0.5%. The Dow Jones Industrial Average, Nasdaq and S&P 500 notched all-time highs.

Among the Dow Jones leaders, Apple (AAPL) rose 0.5% and Microsoft (MSFT) advanced 0.8%. Tesla (TSLA) reversed from early losses to rally 1.3%, setting a record high. The electric-car maker announced a plan to raise $5 billion in a share offering.

Stocks in or near buy zones in the stock market rally are Chipotle Mexican Grill (CMG), DraftKings (DKNG), PayPal (PYPL) and Twilio (TWLO)

Apple, Microsoft and Tesla are IBD Leaderboard stocks. DraftKings is a new IBD SwingTrader idea. Chipotle was Monday’s IBD Stock Of The Day, while PayPal and Twilio are featured in this week’s Stocks Near A Buy Zone column.

Dow Jones Futures Today: Coronavirus Vaccine

Late Tuesday, Dow Jones futures moved up 0.3% vs. fair value, while S&P 500 futures rose 0.2%. Nasdaq 100 futures rallied 0.1% vs. fair value. Remember that trading in Dow Jones futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

On Tuesday, the U.K. began its rollout of Pfizer (PFE)’s coronavirus vaccine. The vaccine will be prioritized to front-line health workers, nursing-home workers and those age 80 or older. Then it will be available to the remainder of the U.K. population.

Early Tuesday, the Food and Drug Administration said Pfizer’s coronavirus vaccine did not raise any specific safety concerns, noting the vaccine was “highly effective in reducing the risk of Covid-19 and severe Covid-19 after Dose 1.” The comments came in documents posted on the FDA website. The advisory meeting will be held Thursday to review Pfizer’s coronavirus vaccine.

Pfizer shares rallied more than 3% Tuesday.

Among exchange traded funds, Innovator IBD 50 (FFTY) rose 0.8% Tuesday. The Nasdaq 100-linked Invesco QQQ Trust ETF (QQQ) traded up 0.3%. Meanwhile, the SPDR S&P 500 ETF (SPY) climbed 0.3%.

Amid the coronavirus stock market rally, the tech-heavy Nasdaq is up 40.2% for the year through Tuesday’s close. The S&P 500 is up 14.6%, while the DJIA is up 5.7% year to date, through the Dec. 8 close.

U.S. Stock Market Today Overview

IndexSymbolPriceGain/Loss% Change
Dow Jones(0DJIA)30174.40+104.61+0.35
S&P 500(0S&P5)3702.20+10.24+0.28
Nasdaq(0NDQC )12582.77+62.82+0.50
Russell 2000 (IWM)190.78+2.40+1.27
IBD 50 (FFTY)40.19+0.31+0.78
Last Update: 4:38 PM ET 12/8/2020

Coronavirus Updates

According to the Worldometer data tracker, the cumulative number of confirmed coronavirus cases in the U.S. topped 15.5 million on Tuesday. Total virus-related deaths rose past 292,000.

The cumulative total of worldwide Covid-19 cases confirmed since the start of the outbreak topped 68.4 million Tuesday, with more than 1.55 million virus-related deaths.

Coronavirus Stock Market Rally

November was a key month for the stock market, after IBD’s The Big Picture flagged a new uptrend following the market’s bullish follow-through day on Nov. 4. Meanwhile, December shows more all-time highs from the major stock indexes.

Monday’s Big Picture commented, “While the stock market is at record highs, complacency remains something to be guarded about. The put/call volume ratio keeps hovering below 0.6. Monday’s reading of 0.51 marked the 12th consecutive session in which it has been below a danger level of 0.6. That’s the longest streak since late August and early September. The ratio spent six straight days below 0.6, just as the stock market began its sharpest decline since the coronavirus bear market.”


Stock Market ETF Strategy And How To Invest


Dow Jones Stocks To Watch: Apple

Dow Jones stock leader Apple is approaching another aggressive entry at 125.49. Shares moved up 0.5% Tuesday to close at 124.38. The conventional buy point, for now, is 138.08, according to MarketSmith chart analysis.

The stock is already trading above an aggressive entry at 122.09 after last week’s breakout move.

The blue-chip giant is the No. 1-performing Dow Jones stock for 2020, with a 69.4% advance through Tuesday.

Stocks In Or Near Buy Zones: Chipotle, DraftKings, PayPal, Twilio

IBD Stock Of The Day Chipotle is rapidly approaching a 1,366.76 buy point in a double bottom. Shares dipped 0.1% and are trading just below an early entry at 1,346.10.

DraftKings is tracing a cup with handle with a 53.82 buy point. Shares advanced 6.1% Tuesday, finding support at the 50-day moving average line. The sports betting leader was added to IBD SwingTrader Tuesday.

A key flaw is the stock’s lagging relative strength line. The RS line remains far from its old highs. Ideally, it should be approaching new highs ahead of a potential breakout.

PayPal is just above its 215.93 buy point in a cup base after retaking the buy point last week, according to MarketSmith chart analysis. Shares moved down 0.45% Tuesday morning and are in the 5% buy range that goes up to 226.73.

PayPal ranks No. 7 on the IBD 50 and No. 3 on the Big Cap 20.

According to IBD Stock Checkup, PYPL stock boasts a perfect 99 IBD Composite Rating. The Composite Rating — an easy way to identify top growth stocks — is a blend of key fundamental and technical metrics to help investors gauge a stock’s strengths.

Top stock to watch Twilio is moving up the right side of a cup base, displaying a 341.80 buy point. A potential handle could be forming, but it is a bit too early to be certain. If it forms, the new handle entry will be 333.72.

Shares rallied 3.7% Tuesday.


IBD Live: A New Tool For Daily Stock Market Analysis


Tesla Stock

IBD Leaderboard stock Tesla reversed from sharp losses to rise 1.3% Tuesday, hitting another record high at 651.28. On Nov. 18, shares broke out above a 466 buy point in an awkward cup with handle and are more than 30% from the buy point.

Early Tuesday, the company announced a plan to raise $5 billion in a share offering. The additional shares will be sold “from time to time” and “at the market” prices, according to the SEC filing.

Meanwhile, November’s Tesla sales in China came in at 21,604, a big increase from 12,145 in October, according to the China Passenger Car Association.

Dow Jones Leaders: Microsoft

Among the top Dow Jones stocks, software giant Microsoft moved up 0.8% Tuesday. Shares are again rebounding from the 50-day support level.

Year to date, Microsoft is one of the top Dow Jones stocks, advancing 36.9% through the Dec. 8 close.

Stock Market Rally: What To Do Next

Investors should continue to use the stock market’s strength to buy breakouts. Be patient and wait for powerful breakouts instead of chasing extended stocks. If the new breakouts work, then add more exposure. But if breakouts start to fail, then you can back away.

In particular, focus on stocks with strong relative strength. Find them by using the relative strength line. The RS line measures a stock’s price performance vs. the S&P 500. If the stock is outperforming the broader market, then the RS line angles upward. If a stock is performing worse than the broad market, then the line will point lower.

Stocks to watch include IBD Long-Term Leaders, companies with stable earnings growth and price performance. Nice (NICE) and Intuit (INTU) are the two most recent additions to the list on Dec. 4.

Nice is finding support around it 10-week moving average and is just above a 238.45 buy point in a flat base. Meanwhile, Intuit is barely extended past the 5% buy zone above a 354.08 buy point in a cup with handle.

Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones futures.

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Dow Jones Futures Fall: Apple Hits New Buy Point; 4 Tech Giants In Or Near Buy Zones


Dow Jones futures, along with S&P 500 and Nasdaq 100 futures, were lower early Wednesday after the stock market rally set more record highs. Dow Jones leader Apple hit a new buy point, while Tesla neared all-time highs. Chinese EV leaders Nio and Xpeng Motors dived over 10% each, while Nikola plunged nearly 15%.

Tech giants Advanced Micro Devices, Facebook, PayPal and Taiwan Semiconductor are in or near buy zones.




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The Dow Jones Industrial Average advanced 0.6%, or 185 points. The S&P 500 rallied 1.1%, while the tech-heavy Nasdaq composite moved up 1.3%. The S&P 500 and Nasdaq notched more all-time highs.

Among the Dow Jones leaders, Apple (AAPL) rose 3.1%, while Microsoft (MSFT) advanced 1%.

Dow Jones stock Salesforce.com (CRM) tumbled after reporting earnings and announcing the acquisition of Slack Technologies (WORK) late Tuesday. Meanwhile, Veeva Systems (VEEV) topped Q3 estimates late, but shares fell over 2.5%.

Tesla (TSLA) advanced 3% on S&P 500 addition news and is just shy of Monday’s record high. Chinese EV leaders Nio (NIO) and Xpeng Motors (XPEV) dived despite reporting strong monthly delivery numbers. Meanwhile, Li Auto (LI) is expected to report monthly figures this week as well.

Stocks in or near buy zones in the stock market rally are Advanced Micro Devices (AMD), Facebook (FB), PayPal (PYPL) and Taiwan Semiconductor (TSM).

Apple, Microsoft, PayPal and Tesla are IBD Leaderboard stocks. AMD and Facebook were featured in this week’s Stocks Near A Buy Zone column.

Dow Jones Futures Today

Early Wednesday, Dow Jones futures fell 0.4% vs. fair value, while S&P 500 futures moved down 0.2%. Nasdaq 100 futures traded down 0.1% vs. fair value. Remember that trading in Dow Jones futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

Among exchange traded funds, Innovator IBD 50 (FFTY) rose 0.8% Tuesday. The Nasdaq 100-linked Invesco QQQ Trust (QQQ) ETF traded up 1.3%. Meanwhile, the SPDR S&P 500 ETF (SPY) climbed 1.1%.

Amid the coronavirus stock market rally, the tech-heavy Nasdaq is up 37.7% for the year through Tuesday’s close. Meanwhile, the S&P 500 is up 13.4%, while the DJIA is up 4.5% year to date, through the Dec. 1 close.

U.S. Stock Market Today Overview

IndexSymbolPriceGain/Loss% Change
Dow Jones(0DJIA)29823.52+184.88+0.62
S&P 500(0S&P5)3662.41+40.78+1.13
Nasdaq(0NDQC )12355.11+156.37+1.28
Russell 2000 (IWM)182.63+1.61+0.89
IBD 50 (FFTY)39.82+0.32+0.81
Last Update: 4:48 PM ET 12/1/2020

Coronavirus Updates

According to the Worldometer data tracker, the cumulative number of confirmed coronavirus cases in the U.S. topped 14 million on Tuesday. Total virus-related deaths rose past 276,000.

The cumulative total of worldwide Covid-19 cases confirmed since the start of the outbreak topped 64 million Tuesday, with more than 1.48 million virus-related deaths.

Coronavirus Stock Market Rally

November became a key month for the stock market, after IBD’s The Big Picture noted the market had returned to a new uptrend following a bullish follow-through day on Nov. 4.

Monday’s Big Picture commented, “So, technically speaking, the S&P 500 added a fresh distribution day to its count over the past 25 trading sessions. Yet it’s far more meaningful to compare Monday’s turnover with other full-day trading sessions in recent days.”


Stock Market ETF Strategy And How To Invest


Dow Jones Earnings: Salesforce

Dow Jones stock Salesforce reported better-than-expected Q3 results late Tuesday.

The company also announced the acquisition of Slack Technologies in a deal valued at $27.7 billion. Salesforce will use a combination of cash and stock to pay for the deal: For one share of Slack, Slack shareholders will receive $26.79 a share and .0776 shares of Salesforce.

Salesforce stock tumbled more than 4% in extended trade.

The cloud software company is the No. 2-performing stock on the Dow Jones Industrial Average, advancing 48.4% year to date.

Apple Stock Hits New Buy Point

Dow Jones stock Apple broke out above an aggressive entry at 122.09. Shares rallied 3.1% Tuesday and are just above the early entry. Another aggressive entry exists at 125.49 while the conventional buy point, for now, is 138.08, according to MarketSmith chart analysis.

The blue-chip giant is the No. 1-performing Dow Jones stock for 2020, with a 66.6% advance through Tuesday.

Stocks In Or Near Buy Zones: AMD, Facebook, PayPal, TSMC

Friday’s IBD Stock Of The Day, Advanced Micro Devices, is in the 5% buy zone above an 88.82 buy point in a double bottom, according to MarketSmith chart analysis. Shares eased less than 0.1% Tuesday. The 5% buy area goes up to 93.26.

According to IBD Stock Checkup, AMD stock boasts a perfect 99 IBD Composite Rating. The Composite Rating — an easy way to identify top growth stocks — is a blend of key fundamental and technical metrics to help investors gauge a stock’s strengths.

FANG stock Facebook continues to trace a cup with handle, which shows a 297.48 buy point. Shares rallied 3.5% to move within 4% of the entry. A key flaw is the stock’s lagging RS line. It remains far from its old highs despite Tuesday’s advance.

PayPal broke out and closed in the 5% buy zone above a 215.93 buy point in a cup base. Shares gained 1.1% Tuesday. The buy zone tops out at 226.73.

Taiwan Semiconductor tried to break out past a new 102.54 buy point Tuesday, but closed about 2% below the entry. Shares briefly cleared a buy point in a rare ascending base.


IBD Live: A New Tool For Daily Stock Market Analysis


Nikola Stock

Nikola plunged for a fourth straight session Tuesday, plunging nearly 15%. The stock closed more than 80% off its 52-week high. This week, the stock is already down 37.8%.

On Monday, Nikola scrapped plans to build the Badger electric pickup truck in a drastically scaled-down partnership deal with General Motors.

Nio, Xpeng Tumble; Li Auto Deliveries On Tap

Early Tuesday, Chinese EV leaders Nio and Xpeng reported monthly delivery numbers. Monthly figures from Li Auto are expected later this week as well.

Nio delivered 5,291 electric vehicles in November, up 109% vs. a year earlier. The Chinese Tesla rival tumbled 10.2%, adding to Monday’s 6.4% skid.

Xpeng Motors delivered 4,224 electric vehicles, up 342% vs. a year earlier. The company’s smart sports sedan, the P7, led the gains. The P7 competes against the made-in-China Tesla Model 3.

Shares dived nearly 11%, following Monday’s 8.6% fall, and are about 30% off their 52-week high.

Li Auto stock fell 3.1% Tuesday, ending more than 25% off its 52-week high. Shares remain well above a 21.96 buy point in a cup with handle.

Tesla Stock

IBD Leaderboard stock Tesla advanced 3% Tuesday after the S&P Dow Jones Indices decided to add the stock to the S&P 500 index in a single step. Tesla stock will join the S&P 500 before the open on Dec. 21.

On Nov. 18, shares broke out above a 466 buy point in an awkward cup with handle and are already more than 20% from the buy point. On Monday, Tesla stock set a record high at 607.80 before reversing lower.

Stock Market Earnings: Veeva Systems

Veeva Systems reported third-quarter results late Tuesday above Wall Street estimates. The company reported adjusted earnings of 78 cents per share on revenue of $377.5 million. Wall Street expected earnings of 68 cents on revenue of $361.9 million.

Shares fell about 2.5% in extended trade. The stock is tracing a short cup base with a 314.09 buy point.

Dow Jones Leaders: Microsoft

Among the top Dow Jones stocks, software giant Microsoft moved up 1% Tuesday. Shares are moving further above the 50-day support level.

Year to date, Microsoft is one of the top Dow Jones stocks, advancing 35.7% through the Nov. 30 close.

Stock Market Rally: What To Do Next

Investors should continue to use the stock market’s strength to buy breakouts. Be patient and wait for powerful breakouts instead of chasing extended stocks. If new breakouts work, then add more exposure. But if breakouts start to fail, then you can back away.

In particular, focus on stocks with strong relative strength. Find them by using the relative strength line. The RS line measures a stock’s price performance vs. the S&P 500. If the stock is outperforming the broader market, then the RS line angles upward. If a stock is performing worse than the broad market, then the line will point lower.

Stocks to watch include IBD Long-Term Leaders, companies with stable earnings growth and price performance. Fair Isaac (FICO) is the most recent addition to the list, added on Nov. 13. Shares are extended after they cleared resistance around 450.

Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones futures.

YOU MAY ALSO LIKE:

Top Growth Stocks To Buy And Watch

IBD’s ETF Stock Market Strategy

IBD’s Long-Term Leaders

Get Full Access To IBD Stock Lists And Ratings

Looking For The Next Big Stock Market Winners? Start With These 3 Steps





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AFL rule changes, zones, interchange cap: new rules 2021, Steve Hocking, AFL announcements, laws of the game


The AFL has slashed the cap for interchange rotations and will use the second-tier level to trial zones at every boundary throw-in and kick-in, as part of sweeping changes being made to the game in 2021.

At second-tier level, six players (three from each side) will be required in each zone at throw-ins and kick-ins, in addition to the regular centre bounces, which is set to have a huge impact on the aesthetic of the game.

After much debate, the AFL brought in zones at centre-bounces in 2019 along with a number of other changes to try and reduce congestion and allow for the ball to be stuck at stoppages less frequently.

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Grand Final

Jamarra to be the next Buddy?

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