Dow Jones Futures Fall, Bitcoin Slumps As Stock Market Rally Enters Power Trend; Square, Apple, Tesla In Focus
Posted Date: April 19 2021
Dow Jones futures fell modestly Monday morning, along with S&P 500 futures and Nasdaq futures. The Bitcoin price tumbled over the weekend, but pared losses. The stock market rally had another strong week, with the Dow Jones, S&P 500 index and Nasdaq 100 all hitting record highs.
The stock market rally is now in what IBD's Market School deems a Power Trend, meeting all the criteria. The Nasdaq composite is above the 50-day moving average and has held above the 21-day exponential moving average for 10 straight days. The 50-day line is in an uptrend and the 21-day line has now been above the 50-day for five straight days. A Power Trend is another signal that the current stock market rally, is in a strong uptrend.
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