IBD Live: First Look | Summary and Q&A

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September 13, 2021
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Investor's Business Daily
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IBD Live: First Look

TL;DR

Last week, the market saw a quiet week in terms of earnings, with the only significant report being Oracle. The Nasdaq and S&P 500 are testing key support levels, with potential for a pullback. Growth stocks, such as Docusign and Square, faced notable damage, but some stocks like Roblox and Crocs are showing strong setups. Steelmakers, chip makers, and chip equipment stocks are worth monitoring for potential trading opportunities.

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Questions & Answers

Q: What were the key earnings reports last week?

The only noteworthy earnings report last week was from Oracle. It showed good action, with a nice relative strength rating and testing its 10-week moving average for the second time.

Q: How are the Nasdaq and S&P 500 performing?

The Nasdaq is coming down to its 21-day line and may find support at the 50-day line. The S&P 500 is trading back above its 21-day line but may also find support at the 50-day line.

Q: Which growth stocks faced notable damage last week?

Growth stocks like Docusign and Square faced damage, but there are still some strong setups, such as Roblox and Crocs, which are testing their 10-week moving average.

Q: What sectors should investors monitor for potential trading opportunities?

Investors should monitor steelmakers like U.S Steel, chip makers like Applied Materials, and chip equipment stocks like KLA Corporation for potential trading opportunities.

Summary & Key Takeaways

  • Earnings: Last week had few noteworthy earnings reports, with Oracle being the most notable one.

  • Market Trends: The Nasdaq and S&P 500 are testing support levels, with potential for a pullback. Market openings were strong but consistently faded by the close.

  • Stock Setups: Growth stocks faced damage, but Roblox and Crocs are showing strong setups. Chip makers and chip equipment stocks, such as Applied Materials and KLA Corporation, are worth monitoring. Steelmakers like U.S Steel are also setting up.

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