US Stock Market Rally Keeps Crucial Levels Despite Difficulties

United States – The United States or the US stock market holds significant levels despite difficulties. On another note, Tesla’s misfortunes continue.

The US stock market rally lost ground in the recent week. However, the big indexes found support at significant levels. On the other hand, many encouraging stocks pulled back immediately after crossing purchase points. Investors should adhere to rules for the present exchange environment, from maintaining exposure light to taking incomplete profits.

According to the movement in the market today, CALX, Excelerate Energy (EE), Charles Schwab (SCHW), and Vertex Pharmaceuticals (VRTX) stocks are actionable, while CELH or Celsius is setting up. CELH and Vertex stock are part of the IBD 50 list. VRTX stock is part of the IBD Big Cap 20, while CALX is part of the IBD Stock of the Day, along with SCHW and Excelerate Energy.

Tesla (TSLA) is not holding up as the stock plunged this week. The decrease was shattering to fresh bear-market lows on Friday, November 25.

The US stock market displayed modest losses, succeeding the big gains of the prior week, which is outside the Dow. However, there was no retreat from the highs on Tuesday to the lows on Thursday.

Last week, the Dow Jones Industrial Average eked out a partial gain in the US stock market trading. The index of the S&P dropped 0.7%, while the index of the Nasdaq Composite dropped 1.5%. Russell 2000 also decreased by 1.7%. The 10-year Treasury yield increased one basis point, up to 3.82%, after struggling to hit 3.69%. The futures of the US crude oil decreased 10% in the previous week to $80.08 per barrel. The zero-Covid incidents in China and the Fed increased demand concerns. Natural gas costs increased by 7.2%.

Regarding ETFs, the Innovator IBD 50 EFT (FFTY) dropped 1.1% last week, while the Breakout Opportunities (BOUT) went down 0.2%. The iShares Expanded Tech-Software Sector ETF or IGV plunged 3.55%, while the VanEck Vectors Semiconductor ETF or SMH recoiled 0.65%, which is the 200-day line resistance today.

ARK Innovation ETF (ARKK) dropped 9.5%, and the ARK Genomics ETF (ARKG) dropped 11.1%, wherein Tesla is also a big holding across the ETF of ARK Genomics.

Some of the best stocks to consider buying include VRTX after it increased 3.75% to 314.63 in the recent week, and the company reclaimed a 306.05 buy point, coming from a flat base. The biotech decreased intraday on November 11 when the medical stocks arrived under pressure, yet reduced losses. The relative strength line showed stabilized progress throughout the year. It continues to grow stronger.

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