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Daily stock market update September 9, 2020 - Market rebound from selloff

September 10, 2020
MCBOSS CAPITAL
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market update

How is stock market today?

The market rebound from recent selloff. However, volume came in weak.

What is the current support level?

Nasdaq rise today and is now between its 21 and 50 days moving average. It recently only took three sessions to drop 10% to this moving average. Prior to this, it break below its 21 days moving average before finding support at its 50 days moving average. The 21 days moving average was a critical support line since April 6 when the rally began.

S&P 500 and Dow Jones rise back to near its 21 days moving average.

Russell 2000 rebound from its 50 days moving average.

DJIA - above its 50 days moving average line near 27000; current at 27940
S&P 500 - above its 50 days moving average line near 3300; current at 3398
NASDAQ - above its 50 and days moving average line near 10800; current at 11141
RUSSELL 2000 - above its 50 moving average line near 1500; current at 1526

Which industry groups show strength?

There are not much industry groups showing strength.

Sector	Industry	Sub-group	#	Stocks
Commodities	Capital Goods	Construction/Ag Equipment/Trucks	2	CAT, CNHI

Which industry groups from recent strength show weakness today?

Relative strength drops by 5%
Retail	Consumer Services	Clothing/Shoe/Accessory Stores	9	AEO, BURL, DLTH, GES, LE, SCVL, TJX, TLYS, ZUMZ

Relative strength drops by 1%
Commodities	Basic Industries	Precious Metals	8	BVN, GOLD, HL, KL, MUX, PAAS, PVG, RGLD

Relative strength drops by 7%
Commodities	Basic Industries	Steel/Iron Ore	2	NUE, STLD

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.