The S&P 500 hit record highs thanks to Nvidia earnings with the Nasdaq almost there. The market rally is already looking stretched again. Breadth has been so-so, though leadership remains robust. Lennar is flirting with a breakout while Manhattan Associates around potential entries. AMD stock had a wild week but yet another tight weekly close as it works on a base.

Market Rally At Record Highs; Lennar, Manhattan Associates, AMD In Focus

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As Nvidia earnings loom large next week, the stock market is on the verge of delivering a powerful signal. Mike Webster and Alissa Coram walk through this week’s technical action and stocks to watch in the Friday extended version of Stock Market Today.

Why A Powerful Trend Is Just Getting Started; Nvidia, CrowdStrike, GDX In Focus

The Dow Jones industrial average briefly crossed the 40,000 level but backed off highs by the close along with the Nasdaq and S&P 500. Decliners beat advancers on both exchanges by a small margin after the Nasdaq confirmed the latest uptrend Thursday with a follow-through day. First Solar is approaching an alternate entry; Hartford Financial gave an early buy signal as it forms a flat base; MercadoLibre is trying to clear a new entry.

Stocks Hold Firm As Dow Crosses 40,000; FSLR, HIG, MELI In Focus

Weaker-than-expected retail sales and a palatable reading on consumer prices fueled a fresh round of buying. The 10-year Treasury yield and U.S. dollar fell sharply. Breadth wasn’t great on the Nasdaq at less than 2-to-1 positive. Winners beat losers on the NYSE by just over 2-to-1. Lennar rallied with other homebuilders, while Azek moved bullishly above its 50-day line. Broadcom rose to the top of an 11-week consolidation.

Stocks Soar On Tame Consumer Prices; Lennar, Azek, Broadcom In Focus

The Nasdaq is nearing a record high, while leading stocks continue to act well. On Holding gapped out of a base on strong earnings. Embraer raced back above a buy point a few days after its quarterly results. CrowdStrike is holding in range of an aggressive entry within a base.

Nasdaq Nears Record High; On Holding, Embraer, CrowdStrike In Focus

Indexes were mostly flat on Monday and after a strong showing last week, that’s constructive. We still have stocks setting up including Pure Storage forming a shallow double bottom, Costco potentially ready for a handle and PulteGroup with a shallow cup with handle.

Market Rally At Record Highs; Lennar, Manhattan Associates, AMD In Focus

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