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Daily stock market update September 1, 2021 - Market continue to power higher

How is stock market today?

Market continue to power higher as Nasdaq lead to new high.

What is the current support level?

Nasdaq hit new high.

S&P 500 is up a little.

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

Russell 2000 made progress to new recent high 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 15309
  • S&P 500 - above its 50 days moving average line near 4350; current at 4524
  • DJIA - above its 50 days moving average line near 34800; current at 35312
  • RUSSELL 2000 - below its 50 days moving average line near 2250; current at 2287

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 some industry groups under accumulation. 

Sector Industry Sub-group # Stocks
Technology Technology Computer Software: Prepackaged Software (Special) 4 AI, AVLR, DCT, LSPD
Technology Technology EDP Services (Tech Services) 5 GIB, GLOB, PRFT, TASK, WIT
Technology Public Utilities Telecommunications Equipment (Wireless) 2 IRDM, VG
Retail Consumer Services Consumer Electronics/Video Chains 2 IQ, NFLX
Retail Health Care Medical/Nursing Services 2 CVS, WBA
Retail Miscellaneous Business Services (Internet) 6 AMZN, DASH, GRUB, JMIA, PDD, VIPS
Retail Consumer Services Other Specialty Stores (Leisure) 5 ASO, BBW, BGFV, DKS, PLBY
Health Health Care Major Pharmaceuticals (Generic Drugs) 2 EGRX, RDY
Health Health Care Medical/Nursing Services 2 AMED, LHCG
Health Health Care Medical Specialities (Services) 2 DGX, GH
Financial Consumer Services Real Estate Investment Trusts 29 ACC, AMH, AMT, ARE, AVB, CLDT, CONE, CPT, CUBE, DLR, EDR, ELS, ESS, HIW, LSI, MAA, MGP, MPW, PLD, PSB, REXR, RYN, STAG, STOR, SUI, TRNO, UDR, VICI, VNO
Financial Consumer Services Other Consumer Services (Specialty) 3 ASPS, HRB, TRU


Which industry groups from recent strength show weakness today?

Relative strength drops by 7%
Technology Technology EDP Services 2 GDS, SPRT
Relative strength drops by 2%
Technology Consumer Services Television Services 2 CABO, LBTYA
Relative strength drops by 1%
Retail Consumer Non-Durables Meat/Poultry/Fish 3 PPC, SAFM, TSN
Relative strength drops by 1%
Industrial Consumer Durables Building Products -4 AMWD, AWI, FBHS, WMS
Relative strength drops by 1%
Industrial Capital Goods Fluid Controls 2 ITT, MNTX
Relative strength drops by 1%
Industrial Transportation Trucking Freight/Courier Services 2 PTSI, SAIA
Relative strength drops by 1%
Health Health Care Biotechnology: Electromedical & Electrotherapeutic Apparatus 2 HRC, IDXX
Relative strength drops by 1%
Commodities Basic Industries Steel/Iron Ore -2 NUE, STLD
Relative strength drops by 1%
Financial Miscellaneous Business Services 3 AFRM, FLYW, GDOT


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.

  

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