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Daily stock market update August 4, 2021 - Market show mixed signals

August 05, 2021
MCBOSS CAPITAL
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market update

How is stock market today?

Market show mixed signals as Nasdaq continue to rise, but S&P and Dow Jones slide.

What is the current support level?

Nasdaq move up slightly once again.

S&P 500 and Dow Jones slide but is still near recent high.

Russell 2000 is once again testing its 10 and 21 days moving average. It is nearing its 50 days moving average.

NASDAQ - above its 50 days moving average line near 14000; current at 14780
S&P 500 - above its 50 days moving average line near 4200; current at 4402
DJIA - above its 50 days moving average line near 34400; current at 34790
RUSSELL 2000 - below its 50 days moving average line near 2240; current at 2196

Psychological levels

Nasdaq is above 14761.
S&P 500 is above 4400.
Dow Jones Industrial Average is below 35000.
Small cap Russell 2000 is below 2200.

Which industry groups show strength?

There are some industry groups showing accumulation.

Sector	Industry	Sub-group	#	Stocks
Technology	Technology	Electronic Components	2	MU, SIMO
Technology	Technology	Semiconductors	8	AMD, HIMX, LSCC, MXIM, MXL, NVDA, NXPI, RMBS
Technology	Technology	Semiconductors (Manufacturing)	11	ADI, AMKR, DIOD, IMOS, MCHP, ON, PI, POWI, QRVO, STM, TSEM

Retail	Capital Goods	Auto Manufacturing	2	HMC, TSLA

Industrial	Miscellaneous	Business Services (Market Research)	4	IT, MCO, MORN, SPGI
Industrial	Public Utilities	Water Supply	2	AWK, AWR

Health	Finance	Specialty Insurers	2	AWK, AWR

Financial	Finance	Finance: Consumer Services	3	ATLC, CACC, COOP
Financial	Finance	Investment Bankers/Brokers/Service	2	HOOD, XP

Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Technology	Technology	EDP Services (Tech Services)	3	CACI, DAVA, WIT

Relative strength drops by 3%
Industrial	Technology	Industrial Machinery/Components	2	GE, TRS

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.