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Daily stock market update September 2, 2020 - Market rise to new heights
How is stock market today?
Market rise to new heights. Indices make major milestones as they hit nice round numbers.
NASDAQ above 12000
S&P 500 above 3500
DOW JONES above 29000
RUSSELL 2000 near 1600
What is the current support level?
Nasdaq make a new high. It recently climbed back above its 10 days moving average nearing 11000 mark. Watch for the 21 days moving average which is a critical support line since April 6 when the rally began.
S&P 500 and DOW made a new high after rebounding from its 10 days moving average.
Russell 2000 also rebounded above its 10 and 21 days moving average. Watch for support in the next few days at this level.
- DJIA - above its 50 days moving average line near 26760; current at 29100
- S&P 500 - above its 50 days moving average line near 3250; current at 3580
- NASDAQ - above its 50 and days moving average line near 10630; current at 12056
- RUSSELL 2000 - above its 50 moving average line near 1490; current at 1592
Which industry groups show strength?
There are more industry groups showing strength.
| Sector | Industry | Sub-group | # | Stocks |
| Technology | Technology | Computer Software: Prepackaged Software (Special) | 6 | AVLR, BL, RP, SPSC, TYL, ZUO |
| Technology | Technology | Computer Software: Prepackaged Software (Design) | 6 | ADSK, ANSS, APPN, CDNS, PTC, SNPS |
| Technology | Technology | Computer Software: Prepackaged Software (Financial) | 3 | GWRE, JKHY, QTWO |
| Technology | Technology | Computer Software: Prepackaged Software (Security) | 10 | CHKP, CRWD, OKTA, PFPT, QLYS, RPD, TENB, VRNT, VRSN, ZS |
| Technology | Technology | Computer Communications Equipment | 2 | EXTR, JNPR |
| Technology | Technology | Semiconductors | 8 | AMBA, AMD, AVGO, IPHI, MPWR, MRVL, NVDA, RMBS |
| Technology | Technology | Semiconductors (Equip) | 3 | AMAT, COHR, LRCX |
| Technology | Technology | Semiconductors (Manufacturing) | 7 | ADI, DIOD, INTC, MX, POWI, ROG, SWKS |
| Technology | Technology | Radio And Television Broadcasting And Communications Equipment | 3 | CASA, CLRO, DY |
| Retail | Consumer Services | Clothing/Shoe/Accessory Stores | 5 | COLM, OXM, PVH, VNCE, VRA |
| Retail | Capital Goods | Auto Parts:O.E.M. (Equipment) | 9 | APTV, BWA, DAN, GNTX, LEA, MGA, THRM, VC, WKHS |
| Retail | Consumer Non-Durables | Beverages Non-Alcoholic (Production/Distribution) | 3 | FIZZ, KO, MNST |
| Retail | Consumer Non-Durables | Packaged Foods | 2 | ADM, MGPI |
| Retail | Consumer Services | Consumer Electronics/Video Chains | 5 | AMC, CNK, IMAX, IQ, ROKU |
| Retail | Consumer Non-Durables | Recreational Products/Toys, Motor Vehicles | 3 | ESCA, NLS, YETI |
| Retail | Consumer Services | Automotive Aftermarket (Parts) | 3 | AZO, GPC, LKQ |
| Retail | Consumer Services | Clothing/Shoe/Accessory Stores | 9 | AEO, BURL, DLTH, GES, LE, SCVL, TJX, TLYS, ZUMZ |
| Retail | Consumer Services | Consumer Electronics/Video Chains | 2 | CONN, GME |
| Retail | Consumer Services | Restaurants | 9 | BLMN, CMG, JACK, KRUS, PLAY, QSR, RRGB, SBUX, WEN |
| Industrial | Basic Industries | Major Chemicals | 3 | CE, LYB, VNTR |
| Industrial | Basic Industries | Paints/Coatings | 2 | RPM, SHW |
| Industrial | Basic Industries | Paper | 4 | CLW, IP, PKG, WRK |
| Industrial | Public Utilities | Power Generation | 4 | CMS, DUK, PCG, WEC |
| Health | Health Care | Major Pharmaceuticals (Ethical Drugs) | 4 | JAZZ, MRK, NVS, ZTS |
| Health | Health Care | Medical Specialities | 3 | HUM, MOH, UNH |
| Commodities | Capital Goods | Construction/Ag Equipment/Trucks | 2 | CAT, CNHI |
Which industry groups from recent strength show weakness today?
| Relative strength drops by 1% | ||||
| Technology | Technology | Computer Software: Prepackaged Software (Desktop) | 2 | ADBE, MSFT |
| Relative strength drops by 1% | ||||
| Technology | Technology | Computer Software: Prepackaged Software (Enterprise) | 12 | AKAM, BAND, COUP, CRM, DOCU, DOMO, DT, PAYC, SMAR, TLND, WORK, ZM |
| Relative strength drops by 1% | ||||
| Industrial | Consumer Durables | Consumer Electronics/Appliances | 2 | FIX, WSO |
| Relative strength drops by 1% | ||||
| Industrial | Miscellaneous | Business Services | 2 | ICFI, STN |
| Relative strength drops by 1% | ||||
| Commodities | Basic Industries | Precious Metals | 3 | BBL, BHP, CLF |
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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