The Dow Jones Industrial Average dropped 150 points Tuesday, as the Nasdaq remains just off all-time highs. Apple stock is nearing a new buy point, while Tesla battles to retake a long-term level.
XAmong the Dow Jones leaders, Apple (AAPL) fell 0.1% Tuesday, while Microsoft (MSFT) moved down 0.2% in today's stock market. JPMorgan (JPM) fell below a key support level.
Tesla (TSLA) slid almost 2% Tuesday, as it attempts to retake its long-term 200-day moving average.
Among the top stocks to buy and watch, Alphabet (GOOGL), Applied Materials (AMAT) and MSCI (MSCI) are trading near new buy points.
Alphabet and Microsoft are IBD Leaderboard stocks. MSCI was featured in this week's Stocks Near A Buy Zone column.
Dow Jones Today
The Dow Jones Industrial Average dropped 0.5% Tuesday morning, while the S&P 500 moved down 0.3%. The tech-heavy Nasdaq composite fell 0.7% in morning trade.
U.S. Stock Market Today Overview |
||||
|---|---|---|---|---|
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 34240.08 | -153.67 | -0.45 |
| S&P 500 | (0S&P5) | 4244.64 | -10.51 | -0.25 |
| Nasdaq | (0NDQC ) | 14094.72 | -79.43 | -0.56 |
| Russell 2000 | (IWM) | 229.23 | -1.79 | -0.77 |
| IBD 50 | (FFTY) | 44.78 | -0.55 | -1.21 |
Last Update: 10:50 AM ET 6/15/2021 |
||||
Among exchange traded funds, the Innovator IBD 50 (FFTY) traded up almost 0.1% Tuesday. Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) moved down 0.3%. Meanwhile, the SPDR S&P 500 ETF (SPY) fell 0.3%.
Stock Market Rally: Nasdaq Awakens
The S&P 500 hit more record highs Monday, while the Dow Jones Industrial Average may be set for a test of its 50-day support level. Meanwhile, the tech-heavy Nasdaq continues to rebound from its 50-day moving average, notching a record closing high Monday and lingering on the cusp of all-time highs early Tuesday.
Monday's Big Picture column commented, "In a market that's been subdued for weeks, it may be hard to notice shifting trends, but the Nasdaq quietly is starting to outperform."
For more stock market commentary, check out IBD's The Big Picture.
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Dow Jones Stocks: JPMorgan
Dow Jones financial leader JPMorgan is trading below a 161.79 buy point in a flat base, according to IBD MarketSmith chart analysis, following last week's 3.7% descent.
Shares fell 1.5% Tuesday to fall further below the buy point. The stock is also below support at its key 50-day line.
Stocks To Buy And Watch: Alphabet, Applied Materials, MSCI
IBD Leaderboard stock Alphabet is trying to break out past a 2,431.48 buy point in a flat base, according to IBD MarketSmith chart analysis. Shares fell 0.2% Tuesday and are right above the entry. Leaderboard noted the stock's RS line is at new highs, which is a positive sign.
Chip giant Applied Materials is adding a handle to a cup base, moving the buy point from 146.10 to 142.22. Shares are about 2% away from the new entry amid Tuesday's 1% gain.
According to IBD Stock Checkup, AMAT stock boasts a strong 97 out of a perfect 99 IBD Composite Rating. The IBD Composite Rating easily identifies stocks with a blend of strong fundamental and technical characteristics.
Friday's IBD Stock Of The Day MSCI is approaching a cup base's 495.26 buy point. Shares are about 1% away from the buy point, as they rallied 0.2% Tuesday.
IBD Live: A New Tool For Daily Stock Market Analysis
Tesla Stock
Tesla stock fell almost 2% Tuesday, threatening to give back a part of Monday's 1.3% gain. The EV giant continues to battle for support around its long-term 200-day line. A new base could be forming, but the stock is far away from any new buy point.
On Jan. 25, Tesla stock hit a record high at 900.40, after climbing as much as 93% from a 466 buy point in a cup with handle.
Dow Jones Leaders: Apple, Microsoft
Among the top Dow Jones stocks, Apple lost 0.1% Tuesday morning following Monday's bullish retake of the 50-day line. Apple stock is tracing a new flat base with a 137.17 buy point after triggering the 7%-8% loss-cutting sell rule from a 135.63 buy point in early May. However, the stock's lagging RS line indicates significant stock market underperformance.
Software giant Microsoft moved down 0.2% Tuesday, and is approaching a new flat base 263.29 buy point, according to IBD MarketSmith chart analysis.
Be sure to follow Scott Lehtonen on Twitter at @IBD_SLehtonen for more on growth stocks and the Dow Jones Industrial Average.
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