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Dow Jones Futures: S&P 500 Hits High With Tesla Model S Plaid Due; Google, RH In Buy Zones As GME, Meme Stocks Skid - Investor's Business Daily

Dow Jones Futures: S&P 500 Hits High With Tesla Model S Plaid Due; Google, RH In Buy Zones As GME, Meme Stocks Skid - Investor's Business Daily

Jun 10, 2021 2 mins, 30 secs

The stock market rally shrugged off a hot inflation report, with the S&P 500 index hitting a record high and Treasury yields hitting fresh lows.

Tesla stock is trading near key levels ahead of tonight's Tesla (TSLA) Model S Plaid delivery event.

Several stocks broke out or flashed buy signals, including RH (RH), Signet Jewelers (SIG), Zscaler (ZS), CrowdStrike (CRWD), Google parent Alphabet (GOOGL) and Adobe (ADBE).

Google, CELH stock and CRWD stock are on IBD 50.

Remember that overnight action in Dow futures and elsewhere doesn't necessarily translate into actual trading in the next regular stock market session.

Join IBD experts as they analyze actionable stocks in the stock market rally on IBD Live.

The Dow Jones Industrial Average edged up 0.1% in Thursday's stock market trading, with Apple (AAPL) and Caterpillar (CAT) weighing on blue chips.

1 component in IGV, which also owns CRWD and ZS stock.

The Model S Plaid event takes place well past after-hours trading, so Tesla stock investors won't weigh in until Friday's premarket.

On Thursday, Tesla stock popped 1.9% to 610.12, reclaiming its 200-day line.

RH stock is 8.1% above its 10-week line, so it's actionable here.

Signet stock vaulted from its 50-day line to a record high, clearing a flat base with a buy point of 68.39/68.46.

The relative strength line for SIG stock hit a new high.

ZS stock broke a tiny trend line earlier in the week.

The RS line for Zscaler stock is off the February peak but is at a three-month high.

CRWD stock was actionable from a short trend line break; again, much like ZS stock.

The official buy for CRWD stock is 251.38.

ADBE stock is 5.8% above its 10-week line, which can be an attractive buying area for Long-Term Leaders.

But, Adobe earnings are due June 17, giving new investors little time build a cushion in ADBE stock.

The RS line for Adobe stock is trending higher again, but has fallen significantly since last September.

The RS line hit a record high along with GOOGL stock, giving the weekly MarketSmith chart a very bullish blue dot.

GameStop also disclosed an SEC probe related to trading in the stock.

While CLOV stock hasn't erased Tuesday's 86% gap-up surge, it has fallen below that day's low.

So anyone who actually bought CLOV stock on Tuesday is now down.

Since the wild June 2 gap up, AMC stock has remained within that day's trading range.

Tracking volume on the major indexes is tricky when meme stocks are in play, with CLOV stock trading more than 700 million shares on Tuesday.

But new buying opportunities continue to appear, as RH, Zscaler and even Adobe stock show.

The brutal sell-offs in CELH stock and others announcing and pricing share offerings is something to note.

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