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Daily stock market update July 23, 2021 - Market close at new highs

July 24, 2021
MCBOSS CAPITAL
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market update

How is stock market today?

Market continue to rebound for the fourth day, and the major indices close at new highs. This is a very bullish sign.

The market made an impressive recovery from drops on Monday and the recover throughout the week.

Index	Jul. 19-23
Nasdaq	2.84%
S&P 500	1.96%
Dow Jones	1.08%
Russell 2000	2.15%

What is the current support level?

Nasdaq, S&P 500, Dow Jones close at new highs after rebounding strongly above its 10 days moving average. This is a good sign.

Russell 2000 continue to struggle near its10 days moving average. It is still far below its 50 days moving average.

NASDAQ - above its 50 days moving average line near 14000; current at 14836
S&P 500 - above its 50 days moving average line near 4200; current at 4367
DJIA - above its 50 days moving average line near 34400; current at 35061
RUSSELL 2000 - below its 50 days moving average line near 2240; current at 2209

Psychological levels

Nasdaq is above 14000.
S&P 500 is now above 4300.
Dow Jones Industrial Average is now above 34000.
Small cap Russell 2000 is now above 2200.

Which industry groups show strength?

There are more groups showing accumulation.

Sector	Industry	Sub-group	#	Stocks
Technology	Technology	EDP Services (Tech Services)	3	CACI, DAVA, WIT
Technology	Technology	Semiconductors (Equip)	4	ASML, COHU, KLAC, LRCX
Technology	Technology	Computer Software: Programming, Data Processing (Content)	6	CARG, FB, GOOGL, MTCH, SNAP, TWTR

Retail	Consumer Non-Durables	Shoe Manufacturing	3	CROX, RCKY, SKX
Retail	Consumer Services	Marine Transportation	2	CAR, PLNT
Retail	Consumer Services	Restaurants	10	CMG, DPZ, GTIM, KRUS, MCD, PZZA, QSR, SBUX, WING, YUM
Industrial	Finance	Diversified Commercial Services	2	IBP, ROL

Industrial	Technology	Advertising	2	IPG, TTD

Health	Health Care	Major Pharmaceuticals	5	ALNY, ARVN, BNTX, MRNA, TBIO
Health	Health Care	Major Pharmaceuticals (Ethical Drugs)	2	NVO, PFE
Health	Health Care	Medical/Dental Instruments	7	BSX, EW, LIVN, QDEL, THC, TNDM, ZBH

Financial	Capital Goods	Homebuilding	3	DHI, KBH, TPH
Financial	Finance	Finance: Consumer Services	2	OMF, WRLD

Which industry groups from recent strength show weakness today?

Relative strength drops by 2%
Retail	Consumer Non-Durables	Package Goods/Cosmetics	4	ELF, IPAR, LFVN, PBH

Relative strength drops by 1%
Industrial	Consumer Durables	Metal Fabrications	2	ABB, ENS

Relative strength drops by 5%
Financial	Finance	Major Banks	3	MS, UBS, WFC

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.