The Nasdaq tested December lows Thursday, but rallies from Tesla (TSLA) and Nvidia (NVDA) helped the benchmark find support at its 50-day moving average in Friday's weak-volume bounce. The S&P 500 ended flat with its 50-day, while indexes like the Dow Jones Industrial Average and the Russell 2000 pulled back even further from their recent stock market highs.

The Nasdaq is still showing a very high seven distribution days. IBD SwingTrader kept its exposure level light as the stock market's test of 50-day lines plays out. Earnings are minimal in the coming week, but Q4 earnings season kicks in the following week, providing what is more likely to be market moving stimulus. 

AI Everywhere At CES 2025 With Spotlight On Nvidia CEO Jensen Huang

Technology: Nvidia CEO Kicks Off CES

The annual CES trade show in Las Vegas, arguably the biggest technology showcase of the year, will begin with a closely watched keynote speech by Nvidia Chief Executive Jensen Huang on Monday evening. Analysts expect updates on the company's Blackwell series AI processors for data centers and details on its AI presence in desktop PCs with graphics chips and possibly a central processing unit. Artificial intelligence is likely to be a major theme at CES 2025, which runs through Friday. AI will appear in a range of consumer devices at the show, from automobiles and smartphones to home appliances and digital health products. Other focus areas include smart glasses, smart rings, robotics and quantum computing.

What To Watch On Stock Market: Solid Watchlist Ideas

The stock market rally is struggling, in its pitched battle to retake support at the 50-day line. But a number of leading stocks continue to act well, and could be poised to thrive if the broader market finds its footing. Meta Platforms (META), GeneDX Holdings (WGS), Kinetik Holdings (KNTK), Interactive Brokers (IBKR) and Talen Energy (TLN) are all breaking downtrends and/or rebounding from 50-day lines, offering buying opportunities. Meta got ahead of the game, rebounding from its 50-day level on Thursday. GeneDX also got in an early bounce and broke through a downgrade. Kinetik rallied across the short week, triggering early entries and climbing toward a flat-base buy point.

Stock Market Calendar: Maybe A Quiet Start To 2025?

The coming week provides several stock market items worth tuning in to. Jefferies Financial (JEF), sitting on a 95% rally for 2024, delivers its fourth-quarter results after Wednesday's close. KB Home (KBH) reports late on Thursday. Delta Air Lines (DAL) serves up its Q4 report early Friday. The December payrolls report is also due Friday, with the Federal Reserve releasing minutes from its December meeting on Wednesday.

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