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Daily stock market update July 8, 2021 - Market pull back

July 09, 2021
MCBOSS CAPITAL
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market update

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.