US. Stocks are mixed early Monday and will fluctuate as technology stocks decline This is at least partially under pressure from the recent rise in government bond yields

With that in mind, the industrials S&P 500 and Dow have maintained bullish hold patterns, maintaining trading areas backed by familiar support

Before you detail the U the broader view of the markets, the S&P 500
Hourly chart shows the last two weeks

Tactically, the lower area (3885) consecutive weekly lows followed by a firmer breakout point (3rd870)

Meanwhile the Dow Jones Industrial Average
in the short term further compared to the other important benchmarks

Conversely, consider that the Dow hit its last record high on Friday, albeit by a narrow four-point lead. Constructive price action

Meanwhile the Nasdaq Composite
does not press record highs

The Nasdaq immediately ventured back below its breakout point early Monday.The lower support corresponds to the gap from the beginning of February (13535), an area shown on the daily chart below

In this broader view, the Nasdaq continues to digest a recent pause to hit record highs

Recall that the Nasdaq’s all-time high (Jan.175), achieved last week, is slightly below its planned target in Region 14200 is (See Feb 5 rating)

Conversely, the breakout point (13729) a gap support (13535) The 50-day increasing moving average from currently 13225 has the lower breakout point (13208) slightly exceeded

Probably the last support corresponds to the high of 2020 (12973), an area from which the predominant upswing originates

Elsewhere, the Dow Jones Industrial Average has so far maintained initial support

The familiar area corresponds to its breakout point (31272), which is also indicated on the hourly chart

Recall that last week’s low (Dec.285) and Monday’s early session low (Dec.286) are slightly above the breakout point

In the broader sense, the Dow’s predominant flag-like pattern – underpinned by the initial support – is technically constructive

Tactically, remember that the lower area (3rd885) coincides with consecutive weekly lows and is closely followed by the firmer breakout point (3rd870)

Certain areas correspond to the lower area of ​​the S&P (3885), the Dow’s breakout point (Dec.272) and the breakout point of the Nasdaq (13729) Constructive price campaign (see the timetables)

The iShares Russell 2000 ETF is switching to small caps
continues to digest the crucial February outbreak

Meanwhile the SPDR S&P MidCap 400 ETF
also claimed a flag-like pattern

The predominant area is supported by a gap of approx 453 underpins10 an area, closely followed by the breakout point (451) 50)

Likewise the SPDR Trust S&P 500
consolidated an outbreak at the beginning of the month

When the index places a more precise point on the S&P 500, it runs through a relatively well-defined two-week range

Tactically, the lower area (3885) consecutive weekly lows followed by a firmer breakout point (3rd870)

If you go deeper, this is followed by the 50-day ascending moving average from the current 3792 the previous area low (3750)

The support points for the last ditch probably coincide with the area of ​​3723 and the low of late January (3694) match A possible violation would mark a material “lower low” – among other problems – and set a technical warning flag

Until such a step, the bullish medium-term bias of the S&P 500 remains bullish and firmly anchored in view of today’s background

The charts below list names that are technically well positioned These are radar screen names – sectors or stocks that will move in the near future For the original comments on the stocks listed below, see The Technical Indicator Library

The iShares MSCI Japan ETF continues
acts technically well

Shares hit record highs earlier this month, erasing resistance that corresponded to January high

The following flag pattern – the ordered area at the middle of the month – is a bullish continuation pattern

Tactically, a remarkable bottom extends from around 7010 to 7040, levels corresponding to the breakout point and post-breakout low. The 50-day ascending moving average is currently at 6840, marking a turning point in the prevailing uptrend is firmly intact except for one violation

Originally profiled Jan 29, NetApp, Inc
has added 59% and remains well positioned (yield = 27%)

Technically, stocks have broken the upper range and soared to 21-month highs due to increased volume

The prevailing upswing underscores sequential areas that depend on the steep rally from November to December A short term target project for the 7250 area

In a broader sense, stocks remain well positioned on the three-year chart due to a continuation pattern underpinned by the top tier in late 2019

Southern Copper Corp.
is a large-scale copper miner who flies (yield = 30%)

As shown, stocks extended a sharp breakout in February and moved to record highs amid a surge in volume

The prevailing upswing has registered amid concerns that the prevailing reflationary backdrop – the return to pre-virus economic conditions – could turn into a less desirable inflationary backdrop that copper prices are very economically sensitive and in part health-related the real estate market tied

Although extended over the short term, the almost straight-line increase is bullish over the longer term, and stocks are attractive in the event of a pullback. Tactical short-term support, approx 75 00 is followed by the more solid breakout point (7200)

Old Dominion Freight Line
is a well-positioned large cap trucking name

Technically, stocks have rebounded to the top of the range and have rallied to challenge record territory. The prevailing rebound underscores a bullish ascending triangle that depends on the September low

Tactically, the former range top (21250) is followed by short-term support, circa 20390. An attempt to break out is in play unless there is a violation

In a broader sense, stocks are well positioned on the three year chart, rising from a continuation pattern that depends on the unusually steep 2020 rally

Finally, Kohls Corp
– originally profiled Nov 18 – 80 has returned 6% and remains well positioned

Shares are significantly higher early Monday and are likely to go (for now) after an activist group of investors proposed changes to the board to control the company’s board of directors

The prevailing upswing underscores a flag-like pattern and brings the group to a 15-month high. Tactically, the breakout point (5150) follows the earlier area below (4790). A sustained higher posture signals a firm bullish tendency

The following table lists names that have recently been profiled in The Technical Indicator and continue to be well positioned. The original comments can be found at The Technical Indicator Library

Rising bond yields shudder the stock market Here is a sectoral breakdown of what history has said about an environment with rising interest rates

S&P 500, Nasdaq

World news – USA – Bull trend paused: S&P 500 crosses the range