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Daily stock market update September 24, 2020 - Market made little progress

How is stock market today?

Today, market made little progress from the current correction.

Nasdaq 11%
S&P 500 9%
Russell 2000 9%

What is the current support level?

Recently, Nasdaq fell further down after find resistance at its 50 days moving average. This is the third time Nasdaq has tested this level.

Recently, S&P 500, Dow Jones and Russell 2000 also fell further below the 50 days moving average. Russell 2000 also fell slightly below its 200 days moving average. Dow Jones might be next testing this 200 days moving average.

  • DJIA - below its 50 days moving average line near 27000; current at 26815
  • S&P 500 - below its 50 days moving average line near 3300; current at 3246
  • NASDAQ - below its 50 and days moving average line near 10800; current at 10672
  • RUSSELL 2000 - below its 50 and 200 days moving average line; current at 1451

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 Non-Durables Shoe Manufacturing 2 DECK, NKE

Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Retail Consumer Services Hotels/Resorts (Gaming) -2 IGT, WYNN

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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