MarketsmithIndia Articles

Dow Jones Futures: Market Rally Rotation Wanes With Amazon Near Buy Point, Tesla, Nio Rebounding; Gene-Editing Stocks Soar

June 28 2021
Dow Jones futures edged lower Monday morning, while S&P 500 futures and Nasdaq futures rose slightly. Gene-editing stocks soared on a potential CRISPR breakthrough from Intellia Therapeutics (NTLA).
 
The stock market rally had a strong, broad rebound last week, with the Nasdaq and S&P 500 hitting record highs and many leaders breaking out or offering early entries.
 
The market rally could be shaping up in a healthier fashion as the economy and society start to settle into a post-pandemic "new normal." But let the market be your guide.
 
Tesla made a bullish move last week, reclaiming key levels and flashing aggressive entries. Meanwhile, Nio (NIO) and fellow China EV makers Xpeng (XPEV) and Li Auto (LI) are shaping up. Tesla should release its Q2 global delivery figures next week, while Nio and some of its local peers are set to release June sales.
 
Meanwhile, Amazon.com (AMZN), Applied Materials (AMAT) and Shopify (SHOP) are consolidating near highs, setting up or working on new entries.
 
Tesla and AMAT stock are on IBD Leaderboard. Tesla stock is on the IBD 50.

What do you think? Please email us any questions or comments.

Disclaimer: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. It is for educational purposes only.For more information, see our Legal disclosures here.

Related Article

Loading...