Stock Market Today With IBD

The stock market rally had a big week. The Nasdaq is extended, but only reluctantly retreated Friday. Investors may want to be cautious in the short run, but looking for new opportunities. McKesson broke out Friday, while Chipotle continues to trade tightly. AMD is retreating toward key levels. Learn more about your ad choices. Visit megaphone.fm/adchoices

The U.S. dollar fell hard again and bond yields dropped, one day after the Federal Reserve held interest rates steady but sounded a hawkish tone. The crop of extended stocks is getting larger by the day, but the train hasn’t left the station yet when it comes to software stocks like Procore Technologies, Intapp and Confluent. Learn more about your ad choices. Visit megaphone.fm/adchoices

Stocks recovered off lows even after the Federal Reserve raised its year-end fed funds rate forecast to 5.6%. Small caps lagged, but buyers lifted the Nasdaq and S&P 500 well off lows by the close. UnitedHealth Group weighed on the Dow, but bad news from the health insurer was good news for healthcare stocks like Steris, Stryker and Merit Medical Systems. Learn more about your ad choices. Visit megaphone.fm/adchoices

Small caps led while Nasdaq and S&P 500 hit fresh 52-week highs heading into the Fed decision. The Nasdaq is getting extended, with many leaders out of reach. Lattice Semiconductor, Vertex Pharmaceuticals and Freeport-McMoran are flashing buy signals. But investors need patience. Learn more about your ad choices. Visit megaphone.fm/adchoices

Tech stocks led as the Nasdaq extended gains higher. In the travel sector, Ryanair formed a three-weeks-tight pattern and continued tight trading. MongoDB formed a short-stroke pattern and moved higher and Shockwave Medical continued to set up in a cup with handle. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes were little changed for the week. But market breadth improved, with solid gains for small caps and midcaps despite cooling late in the week. The lofty Nasdaq and the looming Fed meeting offer reasons to be cautious amid the bullish trends. On Holding flashed a buy signal Friday with Boeing in buy range and Nvidia setting up. Learn more about your ad choices. Visit megaphone.fm/adchoices

Small caps lagged but IWM fought off lows by the close. Breadth wasn’t great as declining stocks had a slight edge over advancers on both exchanges. Monday.com is back in a buy zone; ITCI is bouncing off its 10-week moving average, and Adobe is near the top of a long consolidation ahead of next week’s earnings report. Learn more about your ad choices. Visit megaphone.fm/adchoices

The Russell 2000 small-cap index outperformed again, but several software stocks came under heavy selling pressure. Volume rose, giving the Nasdaq composite and S&P 500 another distribution day. Workday looks ready to test the 200 level; DigitalOcean halted an eight-session win streak, while Meritage Homes topped a new buy point. Learn more about your ad choices. Visit megaphone.fm/adchoices

The major indexes had another relatively quiet session, but market breadth was strong, with small- and mid-cap stocks rising sharply to their best levels in nearly three months. Shopify decisively cleared a trendline, while TransMedics jumped from the 50-day line. Taiwan Semiconductor moved back into a buy zone. Learn more about your ad choices. Visit megaphone.fm/adchoices

 The Nasdaq went back to leading for the day while the Russell 2000 faltered. But in the perspective of Friday’s big gains, the indexes didn’t give up too much. Fortinet came out strongly above a handle area while Samsara followed up on Friday’s breakout. Meanwhile, Fluence Energy pulled back from its highs of the day but is still showing positive action. Learn more about your ad choices. Visit megaphone.fm/adchoices