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The stock market is trying to rebound after Russia invades Ukraine - February 25, 2022

February 27, 2022
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market update

What happen to the market this week?

The stock market is trying to rebound after Russia invades Ukraine. The stock market drops to a new low in this correction amid the new war. The market has rebounded since Thursday morning lows.

Overall this week, the market indices made an impressive rebound from the new lows and was able to close mostly positive for the week.

Index	Feb. 21-25
Nasdaq	1.08%
S&P 500	0.82%
Dow Jones	-0.06%
Russell 2000	1.57%

Nasdaq and Russell 2000 has entered bear market territory as those indices had dropped over 20% at its low.

2021-2022 Correction
Nasdaq	-22.36%
S&P 500	-14.61%
Dow Jones	-12.66%
Russell 2000	-22.95%

What is the current support level?

Most of the major market indices have rebounded strongly above its short term moving averages. Russell 2000 rises above 21 days moving average. Nasdaq and S&P 500 is back above its 10 days moving average.

NASDAQ - below its 50 days moving average line near 14700; current at 13694
S&P 500 - below its 50 days moving average line near 4590; current at 4384
DJIA - below its 50 days moving average line near 35300; current at 34058
RUSSELL 2000 - below its 50 days moving average line near 2100; current at 2040

Psychological levels

Nasdaq is below 14000.
S&P 500 is now 4400.
Dow Jones Industrial Average is below 35000.
Small cap Russell 2000 is above 2000.

Stock market breadth - Accumulation vs Distribution for this week:

#industry groups 123 vs 49

#stocks 321 vs 75

The stock market breadth has strengthened significantly. We have not seen this much accumulation since many weeks ago. This is a good sign for the market.

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

Which industry groups show strength?

There are many industry groups showing accumulation.

Sector	Industry	Sub-group	#	Stocks
Technology	Technology	Computer Software: Prepackaged Software (Design)	1	CDNS
Technology	Technology	EDP Services (Medical)	2	CHNG, EVH
Technology	Technology	Computer Software: Prepackaged Software (Security)	7	CHKP, CYBR, FTNT, INVE, IRNT, PANW, TENB
Technology	Technology	Semiconductors (Manufacturing)	5	CTS, GFS, IMOS, QRVO, TXN

Retail	Consumer Services	Clothing/Shoe/Accessory Stores	3	CRI, KTB, RL
Retail	Capital Goods	Auto Parts:O.E.M. (Equipment)	3	HLLY, MTOR, TEN
Retail	Consumer Services	Other Consumer Services	1	LOPE
Retail	Capital Goods	Industrial Machinery/Components	2	OLED, TRMB
Retail			1	LWAY
Retail	Consumer Non-Durables	Packaged Foods	3	ADM, ANDE, INGR
Retail	Consumer Non-Durables	Packaged Foods	3	JJSF, LANC, STKL
Retail	Consumer Services	Consumer Electronics/Video Chains	2	CNK, IMAX
Retail	Consumer Services	Marine Transportation	3	HTZ, LYV, SEAS
Retail	Consumer Services	Books	2	HMHC, PSO
Retail	Consumer Durables	Automotive Aftermarket	5	ABG, CVNA, GPI, KAR, LAZY
Retail	Miscellaneous	Business Services (Internet)	4	CPNG, ETSY, FTCH, OSTK
Retail	Consumer Non-Durables	Food Distributors	2	PFGC, SYY

Industrial	Capital Goods	Military/Government/Technical	7	GD, HII, ISSC, KTOS, LHX, LMT, NOC
Industrial	Technology	Advertising	2	IPG, TTD
Industrial	Miscellaneous	Business Services	2	BAH, SAIC
Industrial	Technology	Diversified Commercial Services	2	HEES, HRI
Industrial	Technology	Industrial Machinery/Components	2	BRK.B, CHE
Industrial	Basic Industries	Metal Fabrications	1	ZEUS
Industrial	Basic Industries	Environmental Services	3	CLH, WCN, WM
Industrial	Transportation	Trucking Freight/Courier Services	1	DSKE
Industrial	Consumer Services	Marine Transportation	7	DSX, EGLE, GOGL, GRIN, MATX, NMM, SBLK
Industrial	Public Utilities	Power Generation	5	AVA, CMS, CPK, DTE, SJI
Industrial	Basic Industries	Electric Utilities: Central	3	AEP, NEE, PNW
Industrial			1	NJR

Health	Health Care	Major Pharmaceuticals (Diversified)	2	AZN, LLY
Health	Health Care	Hospital/Nursing Management	1	UHS
Health	Health Care	Medical Specialities	1	CI
Health	Health Care	Medical/Nursing Services	4	ACHC, ADUS, AMED, LHCG
Health	Health Care	Medical/Dental Instruments	17	BAX, BSX, CNMD, COO, HSKA, ICUI, LIVN, LMAT, MDT, MMSI, NARI, NUVA, PODD, SILK, SNN, SYK, TFX
Health	Health Care	Biotechnology: Commercial Physical & Biological Research	1	BIO
Health	Health Care	Medical Specialities (Services)	2	IRTC, TVTY
Health	Health Care	Medical Specialities (Supplies)	2	BDX, ELAN
Health	Health Care	Biotechnology: Electromedical & Electrotherapeutic Apparatus	2	IDXX, SWAV
Health	Health Care	Other Pharmaceuticals	2	OMI, PETQ

Commodities	Consumer Services	Farming/Seeds/Milling	2	BG, DAR
Commodities	Basic Industries	Agricultural Chemicals	4	CF, MOS, NTR, UAN
Commodities	Energy	Industrial Machinery/Components	8	ACA, AQN, AY, BE, CLNE, ORA, REGI, TPIC
Commodities	Energy	Coal Mining	1	AMR
Commodities	Basic Industries	Precious Metals	4	CCJ, FCX, MP, VALE
Commodities	Energy	Oil & Gas Production (Canada)	1	CNQ
Commodities	Energy	Integrated oil Companies	6	CVX, EC, EQNR, PBR, WMB, YPF
Commodities	Energy	Oil & Gas Production (International)	2	COP, HES
Commodities	Energy	Metal Fabrications	2	GTLS, MRC
Commodities	Energy	Oil & Gas Production (Royalty Trust)	1	SBR
Commodities	Energy	Natural Gas Distribution	5	DCP, FLNG, GLNG, HESM, STNG
Commodities	Energy	Oil & Gas Production (U.S.)	10	AR, CDEV, CHK, FANG, MTDR, RRC, SD, SWN, VNOM, WTI
Commodities	Basic Industries	Steel/Iron Ore	2	NUE, STLD

Which industry groups from recent strength show weakness this week?

Relative strength drops by 1%
Technology	Technology	Radio And Television Broadcasting And Communications Equipment	2	CMBM, COMM

Relative strength drops by 1%
Retail	Consumer Services	Hotels/Resorts (Lodging)	5	CHH, H, HTHT, MAR, WH

Below 50 days moving average
Retail	Miscellaneous	Business Services	-1	BKNG

Relative strength drops by 10%
Retail	Transportation	Air Freight/Delivery Services	-2	AZUL, RYAAY

Relative strength drops by 4%
Industrial	Basic Industries	Aluminum	4	CENX, CMC, RS, SCHN

Relative strength drops by 1%
Commodities	Energy	Oilfield Services/Equipment	4	HAL, PUMP, RES, SLB

Relative strength drops by 1%
Commodities	Energy	Integrated oil Companies	5	CLMT, GEL, HFC, PBF, VLO

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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