Stocks extended their losses into the adjacent Monday, arsenic the Dow Jones Industrial Average reversed from an intraday summation to a 250 constituent loss.
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The Dow Jones industrials fell 0.7%, the S&P 500 mislaid astir 0.7% and the Nasdaq composite gave up 0.6% successful the stock marketplace today. Small caps tracked by the Russell 2000 besides fell 0.6%. Volume was mixed, higher connected the NYSE and little connected the Nasdaq vs. the aforesaid clip Friday, aboriginal information showed.
Among speech traded funds, Innovator IBD 50 (FFTY) dropped 0.8%, portion the Nasdaq 100-tracking Invesco QQQ Trust (QQQ) besides gave up 0.8%. The IBD 50 ETF, which precocious tested its 200-day moving average, is inactive trading beneath the 50-day line.
The U.S. system continues to retrieve from the Covid-19 pandemic, which triggered nationwide lockdowns implicit a twelvemonth ago. A resurgence successful cases fueled by the much contagious delta variant has precocious started to dilatory down arsenic vaccinations rise.
Cumulative Covid-19 cases worldwide are approaching 239 million, with astir 4.9 cardinal deaths, according to Worldometer. In the U.S., cases person topped 45 cardinal with much than 733,000 deaths.
Growth Stocks To Watch
MarketSmith Growth 250 stocks scoring breakouts Monday included Asbury Automotive (ABG) and PNC Financial Services (PNC).
| Index | Symbol | Price | Gain/Loss | % Change |
| Dow Jones | (0DJIA) | 34496.85 | -249.40 | -0.72 |
| S&P 500 | (0S&P5) | 4361.05 | -30.29 | -0.69 |
| Nasdaq | (0NDQC ) | 14486.20 | -93.34 | -0.64 |
| Russell 2000 | (IWM) | 220.30 | -1.28 | -0.58 |
| IBD 50 | (FFTY) | 46.33 | -0.37 | -0.79 |
Last Update: 4:10 PM ET 10/11/2021 |
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Asbury climbed past a 211.56 buy point of a cup with handle earlier paring gains, according to IBD MarketSmith illustration analysis. Volume ran astir 3% little than normal. The banal closed somewhat beneath the entry. If it breaks retired again, the buy zone would apical retired astatine 222.14.
PNC Financial concisely crossed supra a 203.98 flat-base entry, earlier reversing to a nonaccomplishment of 0.8% and closing beneath the bargain point. Volume was astir 25% lighter than usual.
U.S. crude lipid futures surged much than 3% aboriginal Monday to a seven-year high, fueled by tight planetary supplies, earlier trimming immoderate gains. Oil prices were up 2% to $81.05 successful day trade.
Over successful the IBD 50, Cloudflare (NET) rallied 3% successful above-average measurement to a caller high. Shares extended their triumph streak to an eighth session. The relative spot line, which compares a stock's show to the S&P 500, is astatine a caller high. That's a bullish sign.
Digital Turbine (APPS), Upwork (UPWK) and Atkore (ATKR) added 1.5% to 1.8% each.
But ACM Research (ACMR) sank 8%, portion TaskUs (TASK) and Affirm (AFRM) shed much than 4% apiece.
TaskUs is investigating its 50-day moving mean for the archetypal clip successful its trading history. The banal got airplay successful Monday's IBD Live show.
CarGurus (CARG) fell 2.5% but successful lower-than-usual volume. It's holding supra a 33.45 bargain constituent of a cupful with grip cleared connected Thursday.
Dow Jones Movers
Verizon (VZ) and Visa (V), down much than 2% apiece, were among the biggest Dow losers. Verizon extended its descent for a 3rd consecutive league and is present trading astatine its lowest levels since April 2020. It besides undercut the bottommost of a flat base to transcend the 15% max correction for a flat-base pattern.
Visa stock is inactive moving connected a level basal with a 252.77 buy point. It's astir 10% distant from the introduction arsenic it continues to tally into upside absorption astatine the 50-day moving average. Most of the basal frankincense acold has taken signifier beneath the enactment line, a motion of weakness.
But Home Depot (HD), up 0.8%, led the upside connected the bluish spot index. Shares concisely climbed backmost up supra a 338.65 bargain constituent of a level basal archetypal cleared past month, earlier easing. The bargain scope for Home Depot stock goes up to 355.58.
Keep successful caput the market is inactive successful correction, which makes each purchases highly risky. At this time, it's champion to debar taking caller positions, but for tiny stakes successful genuinely exceptional stocks.
Among different gainers, Salesforce.com (CRM), Boeing (BA) and Walgreens (WBA) managed to clasp onto tiny gains.
Follow Nancy Gondo connected Twitter at @IBD_NGondo
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