Market Rally Picks Up Steam, Here’s What To Do; 10 Stocks Flashing Buy Signals

Dow Jones futures edged lower after hours, along with S&P 500 futures and Nasdaq futures, after a strong session for the stock market rally.


The major indexes made robust gains Wednesday. Bank fears continue to ebb while Micron Technology (MU) offered some hope for a bottom in chips despite a grim report and near-term outlook.

A number of stocks are flashing buy signals, including Micron stock, Microsoft (MSFT), Shift4Payments (FOUR), Mobileye Global (MBLY), STMicroelectronics (STM), Wynn Resorts (WYNN), DraftKings (DKNG), Rambus (RMBS), Skyline Champion (SKY) and Workday (WDAY).

Microsoft, Rambus, Workday and STM stock are above traditional buy points. MU stock, Shift4Payments, Wynn, DraftKings and Skyline are rebounding from key areas, breaking down-sloping trendlines for early entries. MBLY stock has retaken key levels.

SKY stock, Rambus and Wynn Resorts are on IBD Leaderboard. WYNN stock and DraftKings are on SwingTrader. MSFT stock is on IBD Long-Term Leaders. STMicro, DraftKings, Shift4Payments and WDAY stock are on the IBD 50. MBLY stock is on IBD Big Cap 20. Skyline Champion also was Wednesday’s IBD Stock Of The Day, while FOUR stock was Tuesday’s.

Regional banks haven’t rallied much this week, but at least they aren’t tumbling. Embattled First Republic (FRC) has bounced. Larger banks such as JPMorgan Chase (JPM) and Bank of America (BAC) have rebounded this week after hitting at least 2023 lows intraday Friday.

Investors should be looking to add exposure, given the action in the major indexes and leading stocks. But don’t rush in.

Dow Jones Futures Today

Dow Jones futures lost 0.1%vs. fair value. S&P 500 futures dipped 0.1% and Nasdaq 100 futures fell 0.15%.

Remember that overnight action in Dow futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.

Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live

Stock Market Rally

The stock market rally opened solidly higher, with the major indexes adding to gains in the late afternoon.

The Dow Jones…


Read More

Recommended For You

Leave a Reply

Your email address will not be published. Required fields are marked *