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Daily stock market update September 28, 2020 - Market may show good signs

How is stock market today?

Market may be showing good signs as Nasdaq rise above key moving average. It is important that market can hold at this level or rise higher in the near term.


What is the current support level?

Nasdaq rise above its 50 days moving average but on lower volume.

S&P 500, Dow Jones and Russell 2000 rise above 10 days moving average and is a good sign, but they are still below the 50 days moving average. 

  • DJIA - below its 50 days moving average line near 27000; current at 27584
  • S&P 500 - below its 50 days moving average line near 3300; current at 3351
  • NASDAQ - above its 50 days moving average line near 10800; current at 11117
  • RUSSELL 2000 - below its 50 days moving average line; current at 1510

Which industry groups show strength?

There are not much industry groups with strength. 

Sector Industry Sub-group # Stocks
Retail Consumer Services Hotels/Resorts (Gaming) 4 BYD, CZR, DKNG, SGMS
Commodities Technology Semiconductors (Solar) 5 CSIQ, JKS, RUN, SEDG, SPWR

Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Retail Consumer Non-Durables Plastic Products 2 NWL, WBT
Relative strength drops by 1%
Retail Consumer Services Department/Specialty Retail Stores 2 TGT, WMT

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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