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Daily stock market update August 30, 2021 - Market continue to move higher

August 31, 2021
MCBOSS CAPITAL
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market update

How is stock market today?

Market continue to move higher as Nasdaq and S&P 500 lead to new highs.

What is the current support level?

Nasdaq hit new high.

S&P 500 also hit new high closing.

Dow Jones slide a little after rebounding from its 10 and 21 days moving average and is near recent high.

Russell 2000 slide a little after rebounding above its 50 days moving average. This is a really good sign.

NASDAQ - above its 50 days moving average line near 14500; current at 15265
S&P 500 - above its 50 days moving average line near 4350; current at 4528
DJIA - above its 50 days moving average line near 34800; current at 35399
RUSSELL 2000 - below its 50 days moving average line near 2250; current at 2265

Psychological levels

Nasdaq is now above 15000.
S&P 500 is now above 4500.
Dow Jones Industrial Average is above 35000.
Small cap Russell 2000 is above 2200.

Which industry groups show strength?

There is only a few industry groups under accumulation.

Sector	Industry	Sub-group	#	Stocks
Technology	Technology	Semiconductors	2	AMBA, SITM

Retail	Consumer Services	Other Specialty Stores (Leisure)	2	BGFV, DKS

Health	Health Care	Medical Specialities (Services)	3	GH, NEO, PMD
Health	Health Care	Biotechnology: Electromedical & Electrotherapeutic Apparatus	2	HRC, IDXX

Financial	Miscellaneous	Business Services	3	AFRM, FLYW, GDOT

Which industry groups from recent strength show weakness today?

Relative strength drops by 11%
Retail	Consumer Services	Clothing/Shoe/Accessory Stores	-5	HBI, PVH, RL, UFI, VNCE

Relative strength drops by 2%
Retail	Consumer Services	Marine Transportation	-2	PTON, UBER

Relative strength drops by 10%
Financial	Finance	Life Insurance	3	MET, PRU, PUK

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.