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Dow Jones Futures Add To Stock Market Rally, Square, Tesla Rival Flash Buy Signs

July 22 2021
Dow Jones futures rose slightly Thursday morning, along with S&P 500 futures and Nasdaq futures. Treasury yields and crude oil prices rose sharply. The stock market rally on Wednesday added to its rebound with recovery plays, chipmakers and most EV makers powering higher, but trading volume declined yet again. Bitcoin rebounded.

Texas Instruments (TXN), Discover Financial (DFS) and Tenet Healthcare (THC) reported earnings late after all three closed in buy range. Discover stock rose slightly overnight while TXN and Tenet retreated.
In Wednesday's solid market rally, Square stock broke past a cup-with-handle base buy point on Wednesday, perhaps helped by Bitcoin. Floor & Decor (FND) moved past its own cup-with-handle pattern. Morgan Stanley (MS) cleared a flat base after rebounding from its 50-day line on Tuesday, according to MarketSmith analysis.
Li Auto (LI) soared, breaking a downtrend in a handle in a very deep consolidation, offering an aggressive buy point. Nio (NIO) and Xpeng Motors (XPEV) also jumped, but their "handles" are too low in their own deep bases. Tesla stock, meanwhile, edged lower.

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