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The stock market show strength
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The stock market show strength - October 18, 2021
What happen to the market today?
The stock market show strength as market indices continue to make new high.
What is the current support level?
Nasdaq climb further above its 50 days moving average.
S&P 500 also climb further above its 50 days moving average.
Dow Jones Industrial is near its 50 days moving average.
Russell 2000 didn't make much progress but still sits above its 10, 21, 50 and 200 days moving average as they all converge. This is a good sign
- NASDAQ - below its 50 days moving average line near 14825; current at 15021
- S&P 500 - below its 50 days moving average line near 4440; current at 4486
- DJIA - below its 50 days moving average line near 35000; current at 35258
- RUSSELL 2000 - above its 50 days moving average line near 2220; current at 2267
Psychological levels
- Nasdaq is above 15000.
- S&P 500 is below 4500.
- Dow Jones Industrial Average is above 35000.
- Small cap Russell 2000 is above 2200.
Which industry groups show strength?
There are few industry groups under accumulation.
| Sector | Industry | Sub-group | # | Stocks |
| Technology | Technology | Computer Software: Prepackaged Software (Financial) | 2 | COIN, INTU |
| Retail | Consumer Services | Department/Specialty Retail Stores | 2 | JWN, M |
| Retail | Miscellaneous | Business Services (Internet) | 3 | AMZN, CHWY, ETSY |
| Retail | Consumer Services | Department/Specialty Retail Stores | 2 | COST, TGT |
| Industrial | Transportation | Trucking Freight/Courier Services | 2 | EXPD, SNDR |
| Commodities | Energy | Coal Mining | 2 | BTU, METC |
| Commodities | Energy | Oil & Gas Production: Drilling | 2 | HP, PTEN |
| Financial | Capital Goods | Homebuilding | 2 | BZH, LEN |
Which industry groups from recent strength show weakness today?
| Relative strength drops by 1% | ||||
| Financial | Finance | Finance: Consumer Services | 3 | COOP, SOFI, YRD |
| Relative strength drops by 1% | ||||
| Financial | Miscellaneous | Business Services | 5 | AFRM, EEFT, FLYW, IIIV, STNE |
Disclaimer: MCBOSS CAPITAL provides financial education and information research. None of this information should be used for investment purpose. Please seek professional advice. Information provided may not always be accurate.
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