The Dow Jones and other major stock indexes held up well again in the stock market today. Walt Disney stock led the Dow Jones Industrials Monday after soaring nearly 5% last week. Meanwhile, Leaderboard stocks Nvidia (NVDA) and Advanced Micro Devices (AMD) were top gainers in the Nasdaq 100.
XThe Dow Jones and Nasdaq composite edged higher by 0.1%. The S&P 500 rallied less than 0.1%, and the Russell 2000 small-cap index lagged, falling around 0.3%. Preliminary data showed volume on the NYSE and Nasdaq coming in slightly lower than Friday.
Innovator IBD 50 ETF (FFTY) notched its eighth straight gain, rising 0.4%. Last week, the exchange traded fund jumped 3.5%. The resurgence of growth stocks has been a boon to the exchange traded fund.
For stock market bulls, it was yet another strong performance despite a CNBC report just before the opening bell that said China is becoming increasingly pessimistic about a trade deal.
Is the Stock Market Too Complacent?
Still, the CBOE Volatility Index has been flagging a complacent market since October. The VIX on Friday fell to 12.05, the lowest reading since late July and not far from its April low. The VIX hit a low of 11.03 on April 17, just before a 7.5% decline for the S&P 500. The VIX hit a low of 11.69 on July 25, just ahead of a 6.8% decline for the S&P 500.
Disney Stock Leads Dow Jones
Walt Disney (DIS) rebounded 2% after modest declines Thursday and Friday. Shares jumped 7% Wednesday after the company revealed big sign-up numbers for its Disney+ streaming service.
Several other stocks in the Dow Jones ended with gains of 1% or more, including UnitedHealth (UNH), Walmart (WMT), Procter & Gamble (PG) and Nike (NKE).
Paylocity Stock
In the software sector, Paylocity (PCTY) stayed in rally mode and topped a 112.56 buy point. But it's been a fast move off the bottom for Paylocity without much consolidation. And it's relative strength line is still off highs. It's best to the see the RS Line at or near new high ground when a stock breaks out.
NEW! Paylocity and Intuitive Surgical were discussed in today's edition of IBDLive!
Paylocity is a member of the MarketSmith Growth 250, which delivered plenty of other strong gainers Monday.
InMode (INMD) continued its torrid run, up another 5.6% to 52.23, but it closed near session lows. InMode is well extended after a breakout over a 29.48 buy point. Another sign it's ready to take a breather is that the stock is close to 100% above its 50-day moving average.
Other technical breakouts in the MarketSmith Growth 250 came from the likes of Burlington Stores (BURL) and Facebook (FB).
Retail Earnings Reports
Several retail earnings reports are due this week, including reports tomorrow from Home Depot (HD), Kohl's (KSS), and TJX Companies (TJX).
Follow Ken Shreve on Twitter @IBD_KShreve for more stock market analysis and insight.
YOU MAY ALSO LIKE:
After Hours: These 5 Stocks Are Moving On News
Stock Of The Day Breaks Out On Earnings Buzz
Earnings Watch: Expectations High For 2 Top-Rated China Stocks
Catch The Next Big Winning Stock With MarketSmith
Best Growth Stocks To Buy And Watch: IBD Stock Lists
