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Daily stock market update September 21, 2020 - Market correction got worse

How is stock market today?

Market correction got worse as all indices fell below its key 50 days moving average.


What is the current support level?

Nasdaq and S&P 500 fell below near its 50 days moving average. This is not a good sign especially after finding resistance at its 21 days moving average.

Dow Jones and Russell 2000 joined the other indices falling below the 50 days moving average. 

  • DJIA - below its 50 days moving average line near 27000; current at 27147
  • S&P 500 - below its 50 days moving average line near 3300; current at 3281
  • NASDAQ - below its 50 and days moving average line near 10800; current at 10778
  • RUSSELL 2000 - below its 50 moving average line near 1500; current at 1485

Which industry groups show strength?

There are no industry groups with strength. 


Which industry groups from recent strength show weakness today?

Relative strength drops by 3%
Retail Consumer Services Clothing/Shoe/Accessory Stores -4 LEVI, OXM, RL, VFC
Relative strength drops by 15%
Retail Consumer Services Marine Transportation -3 CCL, NCLH, VAC
Relative strength drops by 12%
Retail Consumer Services Automotive Aftermarket (Parts) -3 AAP, GPC, LKQ
Below 50 days moving average
Retail Consumer Non-Durables Food Distributors -3 CORE, UNFI, USFD
Relative strength drops by 2%
Industrial Capital Goods Fluid Controls -10 CFX, DOV, DXPE, ERII, ESE, FTV, HY, IEX, ITT, ITW
Below 50 days moving average
Industrial Basic Industries Paper -3 AIN, GPK, NP
Below 50 days moving average
Industrial Capital Goods Wholesale Distributors -2 TRN, WAB
Relative strength drops by 1%
Health Health Care Major Pharmaceuticals -11 ANIK, BLUE, BSTC, EXAS, HALO, INCY, NCNA, NGM, RGNX, UTHR, VNDA
Relative strength drops by 1%
Commodities Capital Goods Industrial Machinery/Components -2 ALG, LNN


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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