November 17, 2021

Dow Jones Futures: Market Rally Hyper Rotation May Be Waning; Amazon Near Buy As Tesla, Nio Rebound

Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures. The stock market rally had a strong, broad rebound last week, with the Nasdaq and S&P 500 hitting record highs and many leaders breaking out or offering early entries.


The market rally could be shaping up in a healthier fashion as the economy and society start to settle into a post-pandemic “new normal.” But let the market be your guide.

Tesla made a bullish move last week, reclaiming key levels and flashing aggressive entries. Meanwhile, Nio (NIO) and fellow China EV makers Xpeng (XPEV) and Li Auto (LI) are shaping up. Tesla should release its Q2 global delivery figures next week, while Nio and some of its local peers are set to release June sales.

Meanwhile, (AMZN), Applied Materials (AMAT) and Shopify (SHOP) are consolidating near highs, setting up or working on new…

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