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Daily stock market update August 17, 2021 - Market slip

August 18, 2021
MCBOSS CAPITAL
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market update

How is stock market today?

Market slip below its key moving averages.

What is the current support level?

Nasdaq slip below its 10 and 21 days moving average. It is now near its 50 days moving average. Watch for support at this level.

S&P 500 and Dow Jones slip below its 10 days moving average but found support at its 21 days moving average.

Russell 2000 drop further below its 10 days moving average. It is now near its 200 days moving average. This is not a good sign for small caps.

NASDAQ - above its 50 days moving average line near 14000; current at 14656
S&P 500 - above its 50 days moving average line near 4200; current at 4448
DJIA - above its 50 days moving average line near 34400; current at 35343
RUSSELL 2000 - below its 50 days moving average line near 2240; current at 2152

Psychological levels

Nasdaq is above 14000.
S&P 500 is above 4400.
Dow Jones Industrial Average is above 35000.
Small cap Russell 2000 is below 2200.

Which industry groups show strength?

There are few industry groups showing accumulation.

Sector	Industry	Sub-group	#	Stocks
Health	Health Care	Major Pharmaceuticals (Ethical Drugs)	2	ABBV, PFE
Health	Health Care	Medical/Dental Instruments	3	BAX, BSX, PODD

Which industry groups from recent strength show weakness today?

Relative strength drops by 10%
Retail	Consumer Durables	Automotive Aftermarket	-6	AN, CWH, DRVN, LAD, PAG, VRM

Relative strength drops by 1%
Industrial	Technology	Diversified Commercial Services	-2	HEES, TGH

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.