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Daily stock market update September 22, 2020 - Market rebound a little
How is stock market today?
Market rebound a little and took a break from the current correction.
What is the current support level?
Nasdaq and S&P 500 is trying to bounce back to its 50 days moving average. The 10 and 21 days moving average are also converging to this level. It will be critical test for the index here.
S&P 500, Dow Jones and Russell 2000 are still below the 50 days moving average.
- DJIA - below its 50 days moving average line near 27000; current at 27288
- S&P 500 - below its 50 days moving average line near 3300; current at 3315
- NASDAQ - below its 50 and days moving average line near 10800; current at 10963
- RUSSELL 2000 - below its 50 moving average line near 1500; current at 1496
Which industry groups show strength?
There are not much industry groups with strength. This is not a good sign.
Sector | Industry | Sub-group | # | Stocks |
Retail | Consumer Services | Consumer Electronics/Video Chains | 2 | CSSE, ROKU |
Retail | Consumer Services | Consumer Electronics/Video Chains | 2 | CONN, GME |
Which industry groups from recent strength show weakness today?
Below 50 days moving average | ||||
Retail | Consumer Durables | Automotive Aftermarket | -2 | GT, TWI |
Relative strength drops by 1% | ||||
Industrial | Capital Goods | Industrial Machinery/Components (Tools) | -2 | KMT, LECO |
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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