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Daily stock market update August 20, 2021 - Market is rebounding

August 23, 2021
MCBOSS CAPITAL
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market update

How is stock market today?

Market is rebounding for the second day after the recent weakness.

Overall this week, the market start the week with strong pullback

Index	Aug. 16-20
Nasdaq	-0.73%
S&P 500	-0.59%
Dow Jones	-1.11%
Russell 2000	-2.50%

What is the current support level?

Nasdaq rebound to where its 10 and 21 days have converged. Watch for support at this level.

S&P 500 and Dow Jones rebound to its 10 days moving average.

Russell 2000 recover above its 200 days moving average.

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 4441
DJIA - above its 50 days moving average line near 34800; current at 35120
RUSSELL 2000 - below its 50 days moving average line near 2250; current at 2167

Psychological levels

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

Which industry groups show strength?

There is not much accumulation from industry groups.

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.