How is stock market today?
Market condition deteriorate as indices are trying to find a bottom. Some of the indices did rebound from its low so it is possible the bottom may have formed.
What is the current support level?
Nasdaq drop to its 50 days moving average but was able to rebound above it by end of day. Watch for support at this level.
S&P 500 and Dow Jones drop further below its 21 days moving average before rebounding.
Russell 2000 drop further below its 10 days moving average and its 200 days moving average. This is not a good sign for small caps.
- NASDAQ - above its 50 days moving average line near 14500; current at 14423
- S&P 500 - above its 50 days moving average line near 4350; current at 4405
- DJIA - above its 50 days moving average line near 34800; current at 34894
- RUSSELL 2000 - below its 50 days moving average line near 2250; current at 2132
- Nasdaq is above 14000.
- S&P 500 is above 4400.
- Dow Jones Industrial Average is now below 35000.
- Small cap Russell 2000 is below 2200.
Which industry groups show strength?
There is not much accumulation from industry groups.
||Major Pharmaceuticals (Ethical Drugs)
Which industry groups from recent strength show weakness today?
|Relative strength drops by 1%
strength drops by 1%
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