Dow Jones futures fell modestly Monday morning, along with S&P 500 futures and Nasdaq futures. The Bitcoin price plunged over the weekend, with Tesla CEO Elon Musk continuing his recent run of Bitcoin-critical tweets.
The stock market rally suffered losses last week, with breakouts and key sectors struggling, though the major indexes bounced on Thursday and Friday.
ASML (
ASML), Google parent
Alphabet (
GOOGL),
Maravai LifeSciences (
MRVI),
Goldman Sachs (
GS) and
Nutrien (
NTR) held up well. All five stocks are in buy zones or flashing early entries. But they also boast
relative strength lines at or near record highs.
The RS line, which tracks a stock's performance vs. the S&P 500 index, is a great way to spot the true leaders in any environment, including the current choppy market rally.
The RS line, which tracks a stock's performance vs. the S&P 500 index, is a great way to spot the true leaders in any environment, including the current choppy market rally.
Meanwhile, investors don't need the RS line to spot
Tesla (
TSLA) as a laggard. Still, it's helpful to know that while Tesla stock hasn't quite hit a fresh 2021 low, its RS line has.
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