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Daily stock market update August 9, 2021 - Market holding strong

How is stock market today?

Market indices are holding strong.

What is the current support level?

Nasdaq went up slightly and is nearing its recent high.

S&P 500 and Dow Jones are down a little.

Russell 2000 slide a little but is above its 10 and 21 days moving average. 

  • NASDAQ - above its 50 days moving average line near 14000; current at 14860
  • S&P 500 - above its 50 days moving average line near 4200; current at 4432
  • DJIA - above its 50 days moving average line near 34400; current at 35101
  • RUSSELL 2000 - below its 50 days moving average line near 2240; current at 2234

Psychological levels

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

Which industry groups show strength?

There are few industry groups showing accumulation. 

Sector Industry Sub-group # Stocks
Retail Consumer Non-Durables Meat/Poultry/Fish 3 BYND, SAFM, TSN
Commodities Energy Industrial Machinery/Components 4 BLDP, BLNK, CHPT, FCEL

Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Technology Technology Electronic Components 3 MU, SIMO, WDC
Relative strength drops by 10%
Technology Technology Semiconductors 6 CEVA, HIMX, LSCC, MXL, RMBS, SITM
Relative strength drops by 3%
Technology Technology Radio And Television Broadcasting And Communications Equipment 2 ADTN, SATS
Relative strength drops by 2%
Industrial Technology Professional Services 4 AMN, ASGN, CCRN, KELYA
Relative strength drops by 4%
Industrial Transportation Trucking Freight/Courier Services 2 ARCB, SAIA
Relative strength drops by 3%
Health Health Care Medical/Dental Instruments 13 ALGN, BSX, CNMD, EW, IART, ICUI, ITGR, LIVN, MMSI, RGEN, SILK, SYK, TNDM

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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