Stocks Steady as Rally Pauses at Highs; Nasdaq Hits Record While Quality Names Offer Entries
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Dow Jones futures little changed Sunday night, along with S&P 500 futures and Nasdaq futures. Stock market rally continued advancing, with Nasdaq hitting a record high.
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Taiwan Semiconductor (TSM), Monolithic Power (MPWR), Microsoft (MSFT), Palantir (PLTR), Deckers (DECK), among other top stocks taking a breather recently, offer new buy points.
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Super Micro Computer (SMCI) and Deckers jumped Friday on news they will join the S&P 500 index.
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Small-cap Russell 2000 index jumped nearly 3% to 22-month highs. Market rally is strong but Nasdaq and S&P 500 are slightly extended after brief pauses.
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Investors should be significantly invested but nimble, ready to take profits if market hits resistance levels. Monitoring relative strength and base quality still key.