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Daily stock market update August 31, 2021 - Market is holding on

September 01, 2021
MCBOSS CAPITAL
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market update

How is stock market today?

Market is holding on as Nasdaq and S&P 500 are near recent highs.

What is the current support level?

Nasdaq slide a little after hitting new high.

S&P 500 slide a little after previous closing high.

Dow Jones drop to near its 10 and 21 days moving average and is near recent high.

Russell 2000 move up slightly after recently 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 15259
S&P 500 - above its 50 days moving average line near 4350; current at 4515
DJIA - above its 50 days moving average line near 34800; current at 35360
RUSSELL 2000 - below its 50 days moving average line near 2250; current at 2273

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 are few industry groups under accumulation.

Sector	Industry	Sub-group	#	Stocks
Technology	Public Utilities	Telecommunications Equipment (Wireless)	2	IRDM, VG

Retail	Health Care	Medical/Nursing Services	2	CVS, WBA
Retail	Miscellaneous	Business Services (Internet)	3	AMZN, DASH, PDD

Health	Health Care	Major Pharmaceuticals (Generic Drugs)	2	EGRX, RDY
Health	Health Care	Medical/Nursing Services	3	AMED, LHCG, RDNT
Health	Health Care	Medical Specialities (Services)	3	DGX, GH, PMD
Health	Health Care	Medical Specialities (Supplies)	2	PDCO, WST

Financial	Consumer Services	Real Estate Investment Trusts	24	AMH, AMT, AVB, CONE, CPT, CRESY, CUBE, DLR, EDR, ELS, EPRT, ESS, LSI, MAA, MGP, NNN, PLD, PSB, REXR, STAG, STOR, SUI, UDR, VICI

Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Technology	Technology	Computer Software: Prepackaged Software (Security)	9	CRWD, CYBR, MIME, OKTA, PANW, PING, SAIL, ZIXI, ZS

Relative strength drops by 1%
Industrial	Miscellaneous	Business Services (Market Research)	5	IT, MCO, MORN, SPGI, TRI

Relative strength drops by 1%
Industrial	Transportation	Railroads	-5	CP, CSX, KSU, NSC, UNP

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.