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Research >> MCBOSS CAPITAL >> Stock market news today >> The stock market made new record closing high
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The stock market made new record closing high - October 29, 2021

What happen to the market today?

The stock market made new high and close out October with a strong month.

Overall this week, the major indices made a strong performance.

Index Oct. 25-29
Nasdaq 2.70%
S&P 500 1.33%
Dow Jones 0.40%
Russell 2000 0.26%

What is the current support level?

Nasdaq and S&P 500 made a new closing high and still sit comfortably above its 10 days moving average.

Dow Jones Industrial climb further above its 50 days moving average and is near a new high.

Russell 2000 slide a little but still sits above its 10, 21, 50 and 200 days moving average. This is a good sign

  • NASDAQ - above its 50 days moving average line near 14825; current at 15235
  • S&P 500 - above its 50 days moving average line near 4440; current at 4605
  • DJIA - above its 50 days moving average line near 35000; current at 35819
  • RUSSELL 2000 - above its 50 days moving average line near 2220; current at 2297

Psychological levels

  • Nasdaq is above 15000.
  • S&P 500 is now above 4600.
  • Dow Jones Industrial Average is above 35000.
  • Small cap Russell 2000 is above 2200.

Which industry groups show strength?

There are many industry groups under accumulation. 

Sector Industry Sub-group # Stocks
Technology Technology Computer Software: Prepackaged Software (Desktop) 2 CRNC, MSFT
Technology Technology Computer Communications Equipment 3 ANET, JNPR, SILC
Technology Technology Semiconductors 7 AOSL, AVGO, MPWR, MXL, NVDA, SITM, XLNX
Technology Technology Semiconductors (Equip) 9 ACLS, COHU, ENTG, FORM, ICHR, KLAC, MKSI, TER, UCTT
Technology Technology Semiconductors (Manufacturing) 8 CTS, MTSI, MX, ON, PI, POWI, STM, TSEM
Technology Technology Computer Software: Programming, Data Processing (Content) 5 FENG, GOOG, GOOGL, YNDX, Z
Retail Capital Goods Auto Manufacturing 4 F, LCID, RACE, TSLA
Retail Capital Goods Industrial Machinery/Components 2 OLED, SYNA
Retail Consumer Services Hotels/Resorts (Lodging) 3 HLT, MAR, WH
Retail Consumer Services Clothing/Shoe/Accessory Stores 3 BOOT, GES, ROST
Industrial Basic Industries Major Chemicals: Others 4 ALB, ASPN, LIN, LTHM
Industrial Miscellaneous Business Services (Market Research) 6 FDS, MCO, MORN, NLSN, SPGI, TRI
Industrial Consumer Durables Metal Fabrications 4 ENS, GNRC, VRT, WIRE
Industrial Transportation Trucking Freight/Courier Services 2 ARCB, FWRD
Industrial Capital Goods Auto Manufacturing 3 OSK, PCAR, SHYF
Health Health Care Major Pharmaceuticals (Diversified) 2 GSK, LLY
Health Health Care Biotechnology: Commercial Physical & Biological Research 3 AVTR, MEDP, TMO
Health Health Care Medical Specialities (Services) 3 LH, ME, PROG
Health Health Care Biotechnology: Electromedical & Electrotherapeutic Apparatus 4 FONR, INMD, ISRG, OMCL
Commodities Energy Industrial Machinery/Components 9 AMRC, BEP, BEPC, BLDP, BLNK, CWEN, IEA, NEP, PLUG
Commodities Technology Semiconductors (Solar) 6 CSIQ, ENPH, FSLR, NOVA, SEDG, SPWR
Commodities Basic Industries Steel/Iron Ore 2 NUE, TX
Financial Finance Investment Managers 14 AB, AMG, ARES, BEN, CG, DHIL, HLNE, IVZ, JHG, KKR, STEP, TPVG, TROW, WETF
Financial Consumer Services Other Consumer Services (Specialty) 9 BKKT, CME, ECPG, HUT, ICE, INFO, LC, MSCI, TW

Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Industrial Energy Industrial Machinery/Components 2 DDD, SSYS

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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