Friday, January 29, 2021 4:37:53 PM
Market Drop again, DJIA -620 Points As Apple Sell-Off Continues
https://www.investors.com/market-trend/stock-market-today/dow-jones-crashes-500-points-apple-selloff-bitcoin-surges-game-stop-amc-fade-off-highs/?src=A00220
The stock market showed sharp losses Friday afternoon as leading growth stocks got taken to the woodshed again. Apple (AAPL) lagged badly in the Dow Jones Industrial Average despite a bullish earnings report earlier in the week.
The stock market moved off lows in late-afternoon, but the major stock indexes were still mired in red. The Nasdaq composite was down 1.5% in late trading, just below its 21-day exponential moving average. The 21-day line has been a consistent support level for the index since the Nasdaq's follow-through day in early November. The S&P 500 gave back 1.6% and was holding just above its 50-day moving average. The Dow Jones Industrial Average fell below its 50-day line as it tries to make a stand at the 30,000 level. The blue-chip index gave back 1.4%.
Johnson & Johnson (JNJ) also lagged in the Dow Jones today after the company said its coronavirus vaccine was 72% effective in the U.S. But it was only 66% effective in Latin America and 57% in South Africa.
Novavax (NVAX) was a coronavirus vaccine winner. Late Thursday, the company said its coronavirus vaccine is 89.3% effective in a late-stage trial in the U.K. It was 95.6% effective vs. the original coronavirus strain. Novavax gapped up to a new high, rising 63%.
Dow Jones Movers
Apple stock was down 4%. Shares are down 5% so far this week even after the company on Wednesday reported double-digit revenue growth in all of its product categories on Wednesday.
Caterpillar (CAT), Honeywell (HON) and Chevron (CVX) traded lower in the Dow Jones after reporting earnings. Caterpillar is testing support at its 50-day moving average. Honeywell gave up the 200 level, while Chevron is testing its 200-day line.
Meanwhile, the speculative crazed continued in bitcoin as well as Reddit-fueled stocks like GameStop (GME) and AMC Entertainment (AMC). Bitcoin was off highs but still rallied 8% after Tesla CEO Elon Musk added #bitcoin to his Twitter profile.
Grayscale Bitcoin (GBTC) was off well off highs but still rose 1%. Shares are flat so far this week as GBTC makes a solid test of the 10-week moving average.
After making a nice stand at its 21-day exponential moving average Thursday, Tesla (TSLA) gave up the support level Friday, falling 6%.
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https://www.marketwatch.com/investing/stock/AAPL/options
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https://www.marketwatch.com/investing/stock/TSLA/options
https://www.investors.com/market-trend/stock-market-today/dow-jones-crashes-500-points-apple-selloff-bitcoin-surges-game-stop-amc-fade-off-highs/?src=A00220
The stock market showed sharp losses Friday afternoon as leading growth stocks got taken to the woodshed again. Apple (AAPL) lagged badly in the Dow Jones Industrial Average despite a bullish earnings report earlier in the week.
The stock market moved off lows in late-afternoon, but the major stock indexes were still mired in red. The Nasdaq composite was down 1.5% in late trading, just below its 21-day exponential moving average. The 21-day line has been a consistent support level for the index since the Nasdaq's follow-through day in early November. The S&P 500 gave back 1.6% and was holding just above its 50-day moving average. The Dow Jones Industrial Average fell below its 50-day line as it tries to make a stand at the 30,000 level. The blue-chip index gave back 1.4%.
Johnson & Johnson (JNJ) also lagged in the Dow Jones today after the company said its coronavirus vaccine was 72% effective in the U.S. But it was only 66% effective in Latin America and 57% in South Africa.
Novavax (NVAX) was a coronavirus vaccine winner. Late Thursday, the company said its coronavirus vaccine is 89.3% effective in a late-stage trial in the U.K. It was 95.6% effective vs. the original coronavirus strain. Novavax gapped up to a new high, rising 63%.
Dow Jones Movers
Apple stock was down 4%. Shares are down 5% so far this week even after the company on Wednesday reported double-digit revenue growth in all of its product categories on Wednesday.
Caterpillar (CAT), Honeywell (HON) and Chevron (CVX) traded lower in the Dow Jones after reporting earnings. Caterpillar is testing support at its 50-day moving average. Honeywell gave up the 200 level, while Chevron is testing its 200-day line.
Meanwhile, the speculative crazed continued in bitcoin as well as Reddit-fueled stocks like GameStop (GME) and AMC Entertainment (AMC). Bitcoin was off highs but still rallied 8% after Tesla CEO Elon Musk added #bitcoin to his Twitter profile.
Grayscale Bitcoin (GBTC) was off well off highs but still rose 1%. Shares are flat so far this week as GBTC makes a solid test of the 10-week moving average.
After making a nice stand at its 21-day exponential moving average Thursday, Tesla (TSLA) gave up the support level Friday, falling 6%.
https://www.marketwatch.com/investing/stock/AAPL/options
https://www.marketwatch.com/investing/stock/TSLA/options
My post is for Your Eyes only and my entertainment
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