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Daily stock market update July 8, 2021 - Market pull back
How is stock market today?
Market pull back as all the indices are trying to find support near its moving averages.
What is the current support level?
Nasdaq and S&P 500 and Dow Jones pull back to its 10 days moving average.
Russell 2000 fell further below its 50 days moving average. It is not good sign.
- NASDAQ - above its 50 days moving average line near 13640; current at 14559
- S&P 500 - above its 50 days moving average line near 41400; current at 4320
- DJIA - above its 50 days moving average line near 34200; current at 34421
- RUSSELL 2000 - below its 50 days moving average line near 2240; current at 2231
Psychological levels
- Nasdaq is above 14000.
- S&P 500 is now above 4200.
- Dow Jones Industrial Average is above 34000.
- Small cap Russell 2000 is below 2300.
Which industry groups show strength?
There are not many groups showing accumulation.
Sector | Industry | Sub-group | # | Stocks |
Technology | Technology | Computer Software: Prepackaged Software (Security) | 6 | CHKP, CRWD, FTNT, PANW, RPD, ZS |
Which industry groups from recent strength show weakness today?
Relative strength drops by 7% | ||||
Technology | Technology | Computer Software: Prepackaged Software (Enterprise) | 3 | DOMO, SAP, SUMO |
Below 50 days moving average | ||||
Technology | Technology | EDP Services (Gaming) | -2 | NTES, SCPL |
Relative strength drops by 1% | ||||
Industrial | Consumer Services | Diversified Commercial Services | -2 | ITRN, REZI |
Below 50 days moving average | ||||
Industrial | Consumer Services | Marine Transportation | -2 | MATX, ZIM |
Relative strength drops by 2% | ||||
Health | Health Care | Biotechnology: Electromedical & Electrotherapeutic Apparatus | 7 | DXCM, HAE, HOLX, IDXX, MASI, NVRO, OMCL |
Relative strength drops by 1% | ||||
Commodities | Energy | Oil & Gas Production (International) | -3 | COP, HES, OXY |
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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