The Dow Jones industrial average seemed ready to halt a five-day winning streak, but the loss of about 16 points in the negotiations at the end of the day seems rather trivial compared to the rally of 1,136 points seen since the day after Christmas. Meanwhile, the small caps outperformed in a mild session in today's stocks.
While the Dow Jones industrial average declined by about 0.3%, the S & P 600 small cap rose by almost 0.2% to score a sixth advance. At 901, the S & P 600 has now trampled over 13% from a minimum of three weeks of 793.
Apple (AAPL) is almost 2% for the week after losing over 5% during the first week of January on a surprise quarterly revenue warning.
Some small cap leaders have even gone so far to reach new highs, including Innoviva (INVA), Wingstop (WING) and Alteryx ( AYX), which seems ready to score a closing high.
Read this story on Wingstop, the rapidly growing chicken wings chain in IBD's new IBD 50 Growth Stocks To Watch.  Cannabis games such as Tilray (TLRY) helped the BD Consumer Products-Specialty group to increase the day's gain among the 197 IBD industrial groups, nearly 6%. Wholesale electronics, non-alcoholic beverages, films, retail specialties and semiconductor companies also brought the market up with gains of 1.4% or more.
Tilray, more than 20% of the super-turnover turnover on Friday, has reached 103.69 share market today. The stock also returned above the 50-day moving average for the first time since 7 November. Tilray remains below the maximum peak of 300 of all time.
Other important averages join the Dow Jones In posting Miserly Losses
With less than half a regular session hour, the S & P 500 and the Nasdaq composite also kept daily losses limited to about 0.1% to 0.2%. The S & P MidCap 400 and the Russell 2000 have increased fractionally. All these indices entered the last hour of trading with heavy weekly earnings.
The volume is falling slightly against the same time on Thursday in both major markets.
Defensive stocks are getting colder. The average of the Dow utility fell by 0.8%.
While Dow Jones maintains the company, he observes these factors of the stock market
In addition to the high quality growth stocks that make new highs, there are two other reasons why bears are losing control over Wall Street.
One, the breadth of the market has improved considerably. The early reduction of the NYSE has increased significantly since the end of 2018 and a longer-term downtrend could fall. When more stocks are participating in the upside, it means that the potential for good bases and strong breakouts is also growing.
Two, institutions have been reluctant to sell hard since IBD noted a key shift in the current outlook for growth stocks. The Big Picture column of 4 January explains the key follow-through day that marked the possibility of a new uptrend in the market. After a major Friday rally, neither the NASDAQ nor the S & P 500 recorded an unusually heavy sales day or sales session.
The list of IBD industry leaders expands
In December, the screen of the IBD industry leaders was reduced to a minimum of two names. Through the closing on Thursday, the list is rejuvenated with nine companies that qualify.
In addition to Innoviva, the heart pumping device company Abiomed (ABMD) has recently been reunited with Sector Leaders and is working on a deep basic type of cup. For now, no real point of purchase has emerged. The shares gained almost 3% for the week and bounced up to 25% from a Christmas minimum of 274.
Large correction for Abiomed, an innovator in cardiovascular care, is completely normal . Why? Abiomed has staged a superb run-up. It started for the first time from a first tier base with a buy-in 30.87 at the week ended October 31, 2014. Since then, the Danvers, Mass., Has risen over 1.300%, forming new bases along the way.
See if Abiomed can trace back above the 10 week and 40 week moving averages, drawn in red and black respectively, in all weekly IBD charts and in MarketSmith. This would mean a return of institutional appetite for actions.
The company is expected to increase its earnings in the 2019 fiscal year (finished in March) by a whopping 111% to $ 5.05 per share. But Street currently sees gains that fall by 2% in FY 2020 to $ 4.97.
In Other Financial Markets
Crude oil futures yielded to profit. WTI's short-term prices fell more than 1.5% to $ 51.79 a barrel.
Investors have repurchased Treasuries. The 10-year government bond yield on the benchmark index fell 4 basis points to 2.70%. The spread between the 3-month T-bills and the 10-year notes is currently 28 basis points. But at the start of 2018, the spread was even thinner at 24 basis points. The benchmark 30-year bond yield is 3.04%.
For more information on growth stocks and financial markets, follow Chung on Twitter at the address [IBD_DChung
How to find the next apple, Google, Ulta Beauty, Microsoft: follow a simple routine
Here is a place to quickly create a list of articles for growth
Inside The IBD 50: Why The Current Earnings Outlook Does not Look Bad
This is still the rule of gold in the growth of stock investment