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Research >> MCBOSS CAPITAL >> US stock market news today - 2021 November >> Stock market indices looking for near term support - November 12, 2021
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Stock market indices looking for near term support - November 12, 2021

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What happen to the market today?

The stock market indices are looking for near term support at its 10 days moving average.

Overall this week, the market suffer some losses. This is something to watch for the whether this is just a small blip in the market uptrend or this is a turn towards the downtrend.

Index Nov. 8-12
Nasdaq -0.69%
S&P 500 -0.31%
Dow Jones -0.63%
Russell 2000 -1.04%



What is the current support level?

Nasdaq and S&P 500 continue rebound from its 10 days moving average. It will be good sign if the indices can hold above this level.

Dow Jones Industrial also rebound slightly above its 10 days moving average.

Russell 2000 remain above its 10 days moving average after testing support at this level. That is a good sign.

  • NASDAQ - above its 50 days moving average line near 15100; current at 15860
  • S&P 500 - above its 50 days moving average line near 4500; current at 4682
  • DJIA - above its 50 days moving average line near 35100; current at 36100
  • RUSSELL 2000 - above its 50 days moving average line near 2280; current at 2411

Psychological levels

  • Nasdaq is above 15000.
  • S&P 500 is now above 4600.
  • Dow Jones Industrial Average is now above 36000.
  • Small cap Russell 2000 is now above 2400.

Which industry groups show strength?

There are some industry groups under accumulation. 

Sector Industry Sub-group # Stocks
Technology Technology Computer Software: Prepackaged Software (Database) 2 ESTC, NEWR
Technology Technology Computer Software: Prepackaged Software (Design) 2 PDFS, U
Technology Technology Computer Software: Prepackaged Software (Enterprise) 11 AVYA, BZUN, DDOG, ECOM, KERN, MIXT, RNG, SHOP, SNCR, WDAY, WIX
Technology Technology Computer Software: Prepackaged Software (Security) 5 MIME, NICE, SAIL, VRSN, ZS
Technology Technology Electronic Components 4 MU, SGH, STX, WDC
Technology Technology Semiconductors 5 AMD, AOSL, NVDA, QCOM, XLNX
Retail Capital Goods Auto Parts:O.E.M. (Equipment) 4 LEA, MGA, QS, THRM
Retail Consumer Durables Specialty Chemicals 7 ACB, CGC, CRON, GNLN, OGI, TLRY, VUZI
Retail Consumer Non-Durables Package Goods/Cosmetics 6 HELE, HNST, IFF, LFVN, NUS, REV
Retail Miscellaneous Business Services (Internet) 5 DASH, FVRR, GRPN, JD, REAL
Retail Consumer Services Other Specialty Stores (Leisure) 4 BBW, BGFV, POOL, WINA
Industrial Consumer Durables Building Products 5 AZEK, SWIM, TGLS, TREX, WMS
Industrial Technology Advertising 3 PUBM, TTD, TTGT
Industrial Capital Goods Wholesale Distributors 2 BLBD, WAB
Commodities Energy Industrial Machinery/Components 8 AY, BLDP, BLNK, CHPT, FCEL, IEA, ORA, PLUG
Commodities Basic Industries Precious Metals 12 AEM, AGI, AU, BVN, GOLD, HL, KGC, KL, MUX, PAAS, PVG, WPM


Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Technology Technology Computer Software: Prepackaged Software (Special) -3 APPF, AVLR, JAMF
Relative strength drops by 2%
Technology Technology EDP Services (Tech Services) -2 IBM, UIS
Relative strength drops by 5%
Technology Technology Radio And Television Broadcasting And Communications Equipment 3 BDC, CMTL, SATS
Relative strength drops by 10%
Technology Technology Radio And Television Broadcasting And Communications Equipment -2 CLRO, VSAT
Relative strength drops by 1%
Retail Capital Goods Auto Manufacturing 6 F, KNDI, LCID, NIO, RACE, TSLA
Relative strength drops by 1%
Retail Consumer Services Marine Transportation -4 CUK, PTON, RCL, SEAS
Relative strength drops by 2%
Retail Consumer Services Television Services -3 DIS, TV, WWE
Relative strength drops by 5%
Retail Consumer Services Television Services -2 GTN, SBGI
Relative strength drops by 2%
Retail Consumer Services Other Specialty Stores 2 RBA, SBH
Relative strength drops by 4%
Industrial Capital Goods Engineering & Construction 7 ACM, FLR, GVA, MTZ, ROAD, STRL, TPC
Relative strength drops by 8%
Industrial Miscellaneous Business Services (Outsourcing) -2 CNDT, TTEC
Relative strength drops by 11%
Industrial Capital Goods Electrical Products -2 ITRI, NOVT
Relative strength drops by 10%
Health Health Care Major Pharmaceuticals 31 ANAB, ARGX, ARVN, ARWR, ATRA, BIIB, BPMC, CARA, CDXS, CHRS, CNCE, CORT, CYTK, ENTA, EPZM, ESPR, EXAS, HALO, HRTX, ICPT, INCY, INVA, LJPC, RCKT, RETA, SGMO, SRPT, SUPN, TGTX, UTHR, VRTX
Relative strength drops by 4%
Health Health Care Medical/Nursing Services -3 EHC, FMS, TDOC
Relative strength drops by 10%
Health Health Care Biotechnology: Electromedical & Electrotherapeutic Apparatus -2 HAE, NVRO
Below 50 days moving average
Commodities Energy Coal Mining -2 ARCH, METC
Relative strength drops by 10%
Financial Finance Major Banks (West) 7 ABTX, CADE, CFR, CVBF, FFWM, HMST, SI
Relative strength drops by 1%
Financial Finance Finance: Consumer Services 5 ATLC, CACC, ENVA, SOFI, WRLD
Relative strength drops by 10%
Financial Finance Real Estate 6 ASR, FOR, JLL, KW, MMI, NMRK

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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