Research >>
MCBOSS CAPITAL
>>
US stock market news today - 2021 November
>>
New covid variant Omicron sent the stock market tumbling - November 26, 2021
Related:
Stock market indices hit new high today - November 5, 2021
Stock market indices looking for near term support - November 12, 2021
Is it divided stock market - November 19, 2021
Weak job numbers sent the stock market tumbling - December 3, 2021
The stock market is trying to turn around - December 10, 2021
The stock market continue its downtrend - December 17, 2021
The stock market made a new closing high with Santa rally - December 23, 2021
The stock market is holding near recent highs - December 31, 2021
Search more
Products
New covid variant Omicron sent the stock market tumbling - November 26, 2021
What happen to the market today?
A new Covid variant named Omicron deemed by World Health Organization sent the stock market to tumble. The market conditions have deteriorate significantly.
Although 2021 has been the year to buy on the dip, and analysts are also advising the same tone, it may be wisely to caution that there may be a fundamental change as market indices and stocks are showing more selling than buying on the dip.
It is too early and currently not known whether this new Covid variant will penetrate the immunity that comes from existing vaccine. However, Moderna (MRNA) and Biontech (BNTX) are currently working on new vaccine, which make these two stocks strong winners on Friday.
The market suffers heavy losses this week with small cap Russell 2000 taking the most beating.
| Index | Nov. 22-26 |
| Nasdaq | -3.52% |
| S&P 500 | -2.20% |
| Dow Jones | -1.97% |
| Russell 2000 | -4.15% |
What is the current support level?
Nasdaq and S&P 500 broke below its 21 days moving average. It may be heading to its 50 days moving average. Look for support near that level.
Dow Jones Industrial Average shows heavy selling as it undercuts its 50 days moving average. This is a bearish sign.
Russell 2000 is perhaps the weakest index as it not only undercuts its 50 days moving average but also its 200 days moving average. It is hard to tell whether this is currently oversold; perhaps in the short term.
- NASDAQ - above its 50 days moving average line near 15200; current at 15491
- S&P 500 - above its 50 days moving average line near 4500; current at 4594
- DJIA - below its 50 days moving average line near 35200; current at 34899
- RUSSELL 2000 - below its 50 days moving average line near 2300; current at 2245
Psychological levels
- Nasdaq is above 15000.
- S&P 500 is now below 4600.
- Dow Jones Industrial Average is now below 35000.
- Small cap Russell 2000 is now below 2300.
Stock market breadth - Accumulation/Distribution for this week:
#industry groups 9 vs 121
#stocks 50 vs 668
The stock market breadth has deteriorate significantly in the last week.
Check out our course How to measure or calculate stock market breadth.
Which industry groups show strength?
There are no industry groups under accumulation, but there are lots of distribution as shown below.
Which industry groups from recent strength show weakness today?
| Below 50 days moving average | ||||
| Technology | Technology | Computer Software: Prepackaged Software (Database) | -7 | DBX, ESTC, ORCL, OTEX, SPLK, VRNS, WK |
| Below 50 days moving average | ||||
| Technology | Technology | Computer Software: Prepackaged Software (Design) | -5 | ADSK, ANSS, BSY, CDNS, PTC |
| Relative strength drops by 1% | ||||
| Technology | Technology | Computer Software: Prepackaged Software (Desktop) | -2 | CRNC, MSFT |
| Relative strength drops by 3% | ||||
| Technology | Technology | Computer Software: Prepackaged Software (Financial) | -5 | GWRE, INS, JKHY, PEGA, QTWO |
| Relative strength drops by 2% | ||||
| Technology | Technology | Computer Software: Prepackaged Software (Security) | -14 | CHKP, CMCM, CRWD, CYBR, FTNT, MIME, NICE, PING, RPD, S, SAIL, TENB, TUFN, ZS |
| Relative strength drops by 3% | ||||
| Technology | Technology | Computer Manufacturing | 2 | HPQ, LOGI |
| Relative strength drops by 10% | ||||
| Technology | Technology | Semiconductors (Equip) | -9 | ACMR, AMAT, ASML, CCMP, COHU, FORM, ICHR, KLAC, UCTT |
| Relative strength drops by 3% | ||||
| Technology | Technology | Semiconductors (Manufacturing) | -14 | ADI, AMKR, DIOD, IMOS, INTC, MCHP, MTSI, POWI, QRVO, STM, SWKS, TSEM, TSM, TXN |
| Relative strength drops by 10% | ||||
| Retail | Consumer Services | Clothing/Shoe/Accessory Stores | -6 | GOOS, PVH, RL, TPR, UA, UFI |
| Relative strength drops by 1% | ||||
| Retail | Consumer Non-Durables | Package Goods/Cosmetics | -4 | EL, HLF, PBH, SKIN |
| Below 50 days moving average | ||||
| Retail | Consumer Services | Hotels/Resorts (Lodging) | -2 | HLT, HTHT |
| Relative strength drops by 10% | ||||
| Retail | Consumer Services | Consumer Electronics/Video Chains | -3 | BBY, CONN, GME |
| Relative strength drops by 1% | ||||
| Retail | Health Care | Medical/Nursing Services | -2 | CVS, WBA |
| Below 50 days moving average | ||||
| Retail | Consumer Services | Other Specialty Stores | -6 | AAN, HVT, LOVE, LZB, RH, WSM |
| Relative strength drops by 1% | ||||
| Retail | Miscellaneous | Business Services (Internet) | -5 | DASH, FVRR, MELI, PDD, TDUP |
| Below 50 days moving average | ||||
| Retail | Consumer Services | Restaurants | -15 | BJRI, CBRL, CHUY, CMG, DIN, EAT, FRGI, JACK, LOCO, NDLS, PLAY, PZZA, RRGB, SBUX, TXRH |
| Relative strength drops by 7% | ||||
| Industrial | Basic Industries | Major Chemicals: Others | -4 | ALB, ATC, CBT, MTX |
| Relative strength drops by 10% | ||||
| Industrial | Technology | Advertising | -3 | CRTO, QNST, TTGT |
| Relative strength drops by 9% | ||||
| Industrial | Consumer Durables | Metal Fabrications | -5 | AMOT, FELE, GNRC, VRT, WIRE |
| Relative strength drops by 4% | ||||
| Industrial | Miscellaneous | Industrial Machinery/Components | -7 | APH, IIVI, LFUS, TEL, VICR, VSH, WCC |
| Relative strength drops by 10% | ||||
| Industrial | Capital Goods | Fluid Controls | -5 | BMI, ERII, HLIO, IEX, MTD |
| Relative strength drops by 10% | ||||
| Commodities | Basic Industries | Precious Metals | -5 | AEM, KGC, RGLD, SBSW, WPM |
| Below 50 days moving average | ||||
| Commodities | Energy | Oil & Gas Production (International) | -2 | MUR, OVV |
| Relative strength drops by 10% | ||||
| Commodities | Basic Industries | Steel/Iron Ore | -2 | MT, PKX |
| Relative strength drops by 10% | ||||
| Financial | Finance | Major Banks (Regional) | -4 | FITB, SIVB, TFC, USB |
| Below 50 days moving average | ||||
| Financial | Consumer Services | Real Estate Investment Trusts | -2 | ESNT, NMIH |
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.
|
|
||||
| Copyright © MCBOSS CAPITAL 2021. All Rights Reserved. | Powered by Echofavor |
