The Nasdaq composite, which outperformed the heavy sell-off of the Boeing stock after another crash with the 737 Max 8 series, rebounded after last week's heavy profit taking on the current stock market. The high-tech composite outperformed the Dow Jones Industrial Average by 0.6%, up 1.8%.
The S & P 500 rose 1.3%. Small caps also performed well.
The exchange-traded fund Innovator IBD 50 (FFTY) climbed 1.7%, down 3.5% last week.
Boeing (BA) fell by up to 15% on the open, but struggled fiercely back. Equities quickly rebounded to the important 50-day moving average (shown in red on each IBD daily chart and on MarketSmith). The defense system, the satellite, the military aircraft, and the passenger aircraft Titan were also above a decent purchase point of 369.10 in a base having the skeleton of a double bottom.
the 50-day moving average. The same applies to the 10-week moving average on a weekly chart. For more information about this important chart tool, see the Investor's Corner column.
TransDigm (TDG), a supplier of numerous components for the aerospace industry, grew 0.9%.
Google owners and FANG play alphabet (WelfL) and Apple (AAPL) achieved 2% and 3.2%, respectively. In fact, despite lower profits at Alphabet, it actually has a better chance of making a big break in the short term than the giant iPhone, Macbook and digital services giant.
A key to big stock picking in growth stocks
One reason: Alphabet has a higher relative strength.
The relative strength of 77, according to IBD's Stock Checkup for Alphabet, means that it currently exceeds 77% of all public companies in the IBD database in the last 12 months. Apple's RS grade is 35.
Also note that Alphabet is now only 9% below a 52-week high of 1,291. This means that the Megacap Tech is getting closer and closer to completing the right side of its long saucer pattern.
Apple shares are still more than 20% below a historic high of 233.47.
Alphabet is also on the right track After a slight EPS growth of 4% this year, profits will accelerate by 16% to $ 54.71 per share in 2020. Thomson Reuters' consensus forecast is that revenue in the first quarter of this year will rise 20% to $ 37.34 billion. Also in the second quarter and in the third quarter of this year, the increase was repeated by 20% compared to the previous year.
Analysts are finding Apple struggling to rebuild its units in its flagship iPhone product, which represents a 4% decline in fiscal year 2019 to $ 11.40 per share.
Top techs rise in today's stock market
Elsewhere, Arista Networks (ANET), Shopify (SHOP), Netflix ] (NFLX) and Acacia Communications (ACIA) strengthened everyone, pointing out that high-tech stocks still have some room to run after the January 4 Big Picture column saw a day-7 follow-up. Through had done day.
A follow-through indicates a possible change in market performance after a significant correction in stock prices.
Arista and Shopify trade on the NYSE. The former is forming a new cup with Henkel, which has a purchase point of 289.87 points.
Shopify, the e-commerce platform for small and medium-sized businesses, joined the IBD Leaderboard as a call option with earnings season (Feb. 11) and equity position in half position (Feb. 19) in this year.
IBD Ranking stocks rose 11.8% in portfolio terms in portfolio terms in 2011, down 6.2% from the S & P 500. A full position in One Leaderboard stock is a proposal for investors, up to one-eighth the share of growth of a portfolio in the share. A half position equals one-sixteenth of the total growth equity account.
Acacia joins the leaderboard on February 22, after the technology specialist making fiber-optic data networks better features a fourth-quarter specialist Q4 report
India's top stock on Wall Street [1965-90] ] In the banking center, the Indian credit giant toppled the HDFC bank (HDB) by more than 2%, reaching a daily high of 106.32. This resulted in a new breakthrough after a sales volume of 104.60 in a large mug with Henkel.
Growth in the bottom line has slowed for HDFC, but the bank has posted double-digit sales increases in six of the past seven quarters. Growth ranged from 9% (third quarter of last year) to 25% in the fourth quarter of 2017.
A result of 71 earnings per share, according to the IBD Stock Checkup, reflects the recent slowdown in EPS growth.
Over the past eight quarters, HDFC's profits have increased by 3%, 25%, 22%, 27%, 18%, 10%, 5% and 6% compared to the same period last year. However, full-year earnings will increase from a 7% increase in 2019 (to $ 3.37 per share) to 25% in 2020.
The composite rating looks at 87 on a scale of 1 (foul) to 99 (perfect).
In Other Financial Markets
Crude oil rebounded, even with the recent rise in the US dollar against the euro.
Prices for Western intermediate futures rose 1.3% to $ 56.79 a barrel.
Please follow Chung on Twitter at @IBD_DChung and @SaitoChung for more information on key growth stocks, outbreaks, and financial markets.
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