The market initially breathed a sigh of relief that it didn’t get a hawkish statement from Fed Chairman Powell. He acknowledged that inflation is still too high, but he also said the Fed would slow down its bond selling, which could cause downward pressure on rates. Pinterest soared on bullish Q1 results; Booz Allen Hamilton and Aerovironment are building new bases.

The S&P 500 and Nasdaq pulled back from their 50-day lines to undercut their 21-day lines, awaiting the latest Fed meeting and other big news. Eli Lilly jumped on earnings, flirting with a buy signal.

While it’s nice to see indexes on the upswing, there’s more work to be done. Specifically, the 50-day line is looming for indexes and could be a place where bears wrestle control again. And don’t forget a heavy earnings week is on tap to add a potential catalyst for a trend change. Still, a number of individual stocks are looking promising. Carrier Global is working on cooling the artificial intelligence “heat wave.” United Rentals is shaping up a double bottom. Finally, Howmet Aerospace is...

After last week’s bad break, Alphabet is trying to help the market get its mojo back. As stocks snapped back on Friday, Nvidia, Astera Labs and Cava flashed buy signals. In this extended edition of Stock Market Today, Alissa Coram and Mike Webster review the market’s changing character, levels to watch and how to adjust your portfolio – and your expectations – accordingly.

The first estimate to Q1 GDP came in at 1.6%, well below the 2.3% consensus. Core inflation on a year-over-year basis also came in above expectations, raising fears of stagflation. Stocks moved off lows even as the 10-year Treasury yield rallied above 4.70% and hit a five-month high. It’s been an orderly pull back for Southern Copper so far; Sweetgreen is holding support at its 10-week line; Blue Owl Capital is still in a buy zone ahead of earnings next week.

Breadth was weak all day even when the Nasdaq was near session highs. The 10-year yield rose near its high for the year, up 5 basis points to 4.65%. After earnings reports from META and ServiceNow, Microsoft and Alphabet are next up on the earnings calendar. Stocks to watch include Hubbell, Ingersoll Rand and Natera.

The indexes rose solidly for a second straight session, but don’t get excited yet by the nascent rally attempt, especially with earnings season kicking into high gear. TransDigm is on the cusp of a buy signal amid strength in aerospace names. Neurocrine Biosciences jumped toward possible entries on positive drug news. Chipotle is setting up nicely with earnings on tap.

 Indexes faded into the close but still ended with solid gains. But don’t be tempted. One day isn’t enough to change a trend. Still it’s worth noting stocks that are doing well. On the defensive end, Church & Dwight broke out of a flat base, Alphabet has reestablished itself as a relative strength leader and Heico is flirting with resistance around 200.

The major indexes suffered significant losses Friday, with the S&P 500 breaking below the key 5,000 level. Last Friday was an expectation breaker, signaling more weakness could follow – and that’s exactly what we got. The bull market precedent of 2003 is officially broken. Nvidia and SMCI provide two big clues about the market’s unhealthy action, while Sprouts is one of the few setups out there to watch. Mike Webster provides homework to get you ready for next week.

The Nasdaq composite and S&P 500 extended their losing streaks to five sessions after early gains faded. The Nasdaq held up relatively well despite an earnings sell-off for Taiwan Semiconductor. The 10-year Treasury yield added 5 basis points to around 4.64%. Embraer and Quanta Services are pulling back in constructive fashion, while Texas Roadhouse is setting up in a new base.

The 10-year Treasury yield dropped 7 basis points to around 4.59%, but sellers still hit growth stocks hard. Oil fell 3% to around $82.75 a barrel. Eli Lilly initially popped on positive news but couldn’t hold gains; Itron is setting up in a nice base; Google parent Alphabet is still showing strength with a relative strength line near highs.

The major indexes held their ground despite comments from Fed chief Jerome Powell, but remain below their 50-day moving averages. Some leading stocks had solid sessions, including Sea Limited, DraftKings and Datadog.

The back-and-forth between Iran and Israel is still putting some pressure on stocks and raising volatility. An early morning gap up faded and then some by the close with few areas left unscathed. Atkore had a nice move higher finding support at its 10-week line as did Casey’s General Stores. Meanwhile, HealthEquity has been skirting around its 10-week line for a few weeks now and just isn’t bowing to downside pressure.

Thursday looked promising, but now we need to readjust our expectations.

Breadth was lackluster again, along with volume, but leading stocks continue to act well. Winners had a slight edge over losers on both exchanges. In the chip sector, Broadcom and ASML are setting up in new bases with healthy RS lines, while Airbnb is in a buy zone.

Sellers hit stocks hard after core consumer prices on a year-over-year basis came in hotter than expected for the fourth straight month. The 10-year Treasury spiked 19 basis points to 4.56%.  Declining stocks outnumbered advancers on the Nasdaq by nearly 4-to-1, but buyers lifted the index off lows by the close. Axon and Ares Management are both forming flat bases, while Cava is in an alternate buy zone.

The major indexes didn’t make big moves Tuesday ahead of Wednesday’s CPI inflation report. Nvidia stock slumped Tuesday, undercutting recent lows but finding 10-week line support. Royal Caribbean fell below a recent buy point. But Nutanix is holding up, close to forging a new base.

After Thursday’s downside reversal, indexes have stayed within the highs and lows of that day. It sets up a nice lane for the markets but take note when it breaks from its lane. Take extra note of the stocks that do it first. Medpace crossed above Thursday’s high on Friday and followed up today. Apollo retraced a lot of ground on Friday and punctured above Thursday’s high today. Finally, ExxonMobil doesn’t even show anything happening on Thursday as it broke out of a cup base.

After Thursday’s downside reversal and weak recovery attempt on Friday, could a pullback or intermediate correction be in the cards? IBD’s Mike Webster walks through each day’s action and levels he’s watching. We revisit a precedent to see if the current index action is still tracking what unfolded in the market in 2003. Plus, we analyze some of this week’s notable stocks: Meta, Spotify, ServiceNow and Celsius.

A 1.2% intraday gain for the Nasdaq composite faded to a loss of more than 1% by the close. Oil settled at its highest level since late October, up 1.4% to $86.59 a barrel. Friday’s jobs report is expected to show nonfarm payrolls up 200,000 with the unemployment rate holding steady at 3.9%. Saia is testing its 10-week line; Celsius is close to a first test, while ServiceNow continues to build a base.

Advancing stocks outnumbered decliners on both exchanges by less than 2-to-1. The 10-year Treasury jumped above 4.40% after ADP reported stronger than expected job growth in March. But the 10-year yield backed off highs for the second straight session. Salesforce and XPO are trading near their 10-week moving averages, while Dexcom is in an alternate buy zone.

The 10-year Treasury yield added to Monday’s surge, hitting 2024 highs Tuesday. That pressured stocks once again, though the indexes came off morning lows. Meta Platforms, Uber Technologies and Eli Lilly are finding support around their 10-week lines.

The 10-year Treasury yield jumped 13 bps to around 4.33% after manufacturing data in the U.S. and China came in better than expected. The March jobs report also looms large on Friday. Casino operator Wynn Resorts, software firm Hubspot and First Watch Restaurant are all near buy points.

The 10-year Treasury yield ticked higher ahead of a key report on inflation Friday morning. The stock market will be closed Friday in observance of Good Friday, but the bond market will be open. Winners beat losers on the NYSE by about 2-to-1. The ratio was about 4-to-3 positive on the Nasdaq. Toast is setting up in a cup-with-handle base; M/I Homes gave an early buy signal; Martin Marietta is trading tightly near highs.

Profit-taking hit several top-rated growth stocks as the Russell 2000 small-cap index moved into position for another breakout try. The 10-year Treasury yield fell for the sixth time in seven trading sessions with the latest reading on inflation due Friday. Medpace and Nextracker are holding gains well after recent breakouts, while Dutch Bros is retesting a prior buy area.