Research >> MCBOSS CAPITAL >> Stock market news today 2022 >> The stock market show recovery for the second consecutive week - February 4, 2022

Search more Products

View Coupon

The stock market show recovery for the second consecutive week - February 4, 2022

February 07, 2022
1 views

market update

What happen to the market today?

The stock market show recovery for the second consecutive week. This is a good sign that market most likely have bottom on Jan. 24, 2022.

Index	Jan. 31 - Feb. 4
Nasdaq	2.38%
S&P 500	1.55%
Dow Jones	1.05%
Russell 2000	1.72%

Earnings season has started. Expectations for mega cap techs that represent economic growth have mostly been met.

MSFT (positive)

AAPL (positive)

TSLA (negative)

GOOGL (positive)

AMZN (positive)

FB (negative)

With good job numbers on Friday, the futures show that Federal Reserve have now priced in five rate hikes this year and there is 28% possibility of 0.5% rate hike in March.

What is the current support level?

All the major market indices are trying to recover above its 10 days moving average. If they can move above this and this short term trend can continue upward, then this recovery rally might have legs.

If major indices can punch above the 10 days moving average, then there may be more investors jumping back into the stocks.

NASDAQ - below its 50 days moving average line near 15200; current at 14098
S&P 500 - below its 50 days moving average line near 4640; current at 4500
DJIA - below its 50 days moving average line near 35560; current at 35089
RUSSELL 2000 - below its 50 days moving average line near 2190; current at 2002

Psychological levels

Nasdaq is now above 14000.
S&P 500 is now at 4500.
Dow Jones Industrial Average is now above 35000.
Small cap Russell 2000 is now above 2000.

Stock market breadth - Accumulation vs Distribution for this week:

#industry groups 114 vs 118

#stocks 294 vs 268

The stock market breadth is showing more stocks under accumulation than distribution. This is a good sign of the market correction recovery.

Check out our course How to measure or calculate stock market breadth.

Which industry groups show strength?

There are many signs of industry groups showing accumulation in different sectors.

Sector	Industry	Sub-group	#	Stocks
Technology	Technology	Computer Software: Prepackaged Software (Financial)	2	BILL, JKHY
Technology	Technology	EDP Services (Gaming)	2	EA, TTWO
Technology	Technology	Computer Software: Prepackaged Software (Security)	4	CHKP, FTNT, NLOK, RPD
Technology	Technology	Computer Software: Programming, Data Processing (Content)	6	CARG, GOOG, GOOGL, SNAP, TWTR, YELP

Retail	Consumer Services	Catalog/Specialty Distribution	2	DOLE, MKC
Retail	Consumer Services	Hotels/Resorts (Gaming)	3	BYD, CZR, DKNG
Retail	Consumer Services	Hotels/Resorts (Lodging)	3	IHG, MAR, WH
Retail	Consumer Services	Television Services	3	DISCA, DISCK, TGNA
Retail	Miscellaneous	Business Services (Internet)	3	AMZN, CPNG, OSTK

Health	Health Care	Medical Specialities	3	GTS, HUM, MOH

Commodities	Basic Industries	Agricultural Chemicals	2	CF, MOS
Commodities	Energy	Coal Mining	4	ARCH, BTU, CNX, HCC
Commodities	Energy	Oil & Gas Production: Drilling	2	HP, RIG
Commodities	Energy	Integrated oil Companies	7	AM, BP, EQT, MRO, PTR, WMB, XOM
Commodities	Energy	Oil & Gas Production (International)	5	COP, HES, MUR, OVV, OXY
Commodities	Energy	Integrated oil Companies	6	DK, GLP, MPC, NS, TRGP, VLO
Commodities	Basic Industries	Steel/Iron Ore	2	NUE, TS

Financial	Finance	Major Banks (Midwest)	3	CBSH, MBIN, UMBF
Financial	Finance	Major Banks (Northeast)	3	CFG, MTB, TBBK
Financial	Finance	Major Banks (Regional)	6	FITB, HBAN, NTRS, PNC, SIVB, TFC
Financial	Finance	Major Banks (West)	3	EWBC, FINW, FRC
Financial	Finance	Investment Bankers/Brokers/Service	6	EVR, HOOD, JEF, LPLA, SCHW, SF
Financial	Consumer Services	Other Consumer Services (Specialty)	8	CME, FLT, HIVE, HRB, HUT, ICE, MSCI, VIRT
Financial	Finance	Specialty Insurers	2	AON, BRO
Financial	Finance	Life Insurance	7	AEL, BHF, GNW, LNC, MET, PRU, SLF

Which industry groups from recent strength show weakness this week?

Relative strength drops by 1%
Industrial	Consumer Services	Marine Transportation	5	DAC, ESEA, GOGL, NMM, SBLK

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.

Thanks for subscribing to MCBOSS CAPITAL