Stock Market Today With IBD Indexes Climb Off Lows After Soft Start; Viking, Equinix, Seagate In Focus
Mar 3, 2026
Markets rebound after a soft start with indexes climbing off intraday lows. Discussion covers rising distribution days and S&P action around key support levels. Oil surges amid geopolitical tension and trading cautions for energy names. Semiconductor and gold weakness raises market risk. Chart setups spotlight Viking’s earnings rebound, Equinix’s cup-with-handle, and Seagate’s test of support.
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Buyers Lift Market Off Lows During Volatility
- Markets can rally off intraday lows even during headline-driven volatility.
- Alissa Coram and Ken Shreve noted the NASDAQ and S&P erased deeper losses, showing buyer interest despite a weak session.
Clustering Distribution Days Raise Market Risk
- High-volume declines and clustering distribution days signal elevated market risk.
- Ken Shreve highlighted rising distribution-day counts on the NASDAQ and said this reflects plain old-fashioned distribution affecting leaders.
Avoid Chasing Headline Driven Moves In Oil
- Avoid buying stocks that are extended or chasing daily headline-driven rallies in oil and gas.
- Ken Shreve advised using buying rules and not buying extended names despite short-term strength after Iran headlines.