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Daily stock market update September 14, 2020 - Market trying to claw back

How is stock market today?

The market is trying to claw back. It is too early to tell whether it has leg.


What is the current support level?

Nasdaq and Russell 2000 has risen back above its 50 days moving average.  

S&P 500 and Dow Jones are still holding above its 50 days moving average.

  • DJIA - above its 50 days moving average line near 27000; current at 27993
  • S&P 500 - above its 50 days moving average line near 3300; current at 3383
  • NASDAQ - above its 50 and days moving average line near 10800; current at 11056
  • RUSSELL 2000 - above its 50 moving average line near 1500; current at 1536

Which industry groups show strength?

There are strength in retail related industry groups. 

Sector Industry Sub-group # Stocks
Retail Consumer Services Clothing/Shoe/Accessory Stores 8 COLM, CRI, GOOS, PVH, RL, TPR, VFC, VNCE
Retail Consumer Non-Durables Shoe Manufacturing 2 CROX, WWW
Retail Capital Goods Auto Manufacturing 2 FCAU, TSLA
Retail Capital Goods Auto Parts:O.E.M. (Parts) 2 DORM, SMP
Retail Consumer Non-Durables Packaged Foods 2 ADM, ANDE
Retail Consumer Durables Office Equipment/Supplies/Services 2 MLHR, TPX
Retail Consumer Non-Durables Plastic Products 2 NWL, WBT
Retail Consumer Services Hotels/Resorts (Gaming) 5 CZR, DKNG, IGT, PENN, SGMS
Retail Consumer Services Marine Transportation 3 CLCT, LYFT, UBER
Industrial Basic Industries Major Chemicals: Plastics 2 EMN, KRA
Industrial Basic Industries Paper 2 IP, WRK
Commodities Energy Coal Mining 3 ARCH, CNX, HCC
Financial Finance Major Banks (Regional) 3 CMA, HBAN, KEY
Financial Capital Goods Homebuilding 3 DHI, LEN, NVR
Financial Consumer Services Real Estate Investment Trusts 8 AIV, AMH, CLDT, CPT, EPRT, ORC, PEB, UDR

Which industry groups from recent strength show weakness today?

Relative strength drops by 3%
Industrial Basic Industries Major Chemicals 3 CE, LYB, VNTR

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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