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Daily stock market update September 29, 2020 - Market gave back a little

How is stock market today?

Market gave back a little today. Hopefully it can hold on to this level.


What is the current support level?

Nasdaq is trying to hold above its 50 days moving average.

S&P 500, Dow Jones and Russell 2000 are trying to hold 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 27452
  • S&P 500 - below its 50 days moving average line near 3300; current at 3335
  • NASDAQ - above its 50 days moving average line near 10800; current at 11085
  • RUSSELL 2000 - below its 50 days moving average line; current at 1504

Which industry groups show strength?

There are not much industry groups with strength. 

Sector Industry Sub-group # Stocks
Technology Technology Computer Software: Prepackaged Software (Design) 2 ANSS, APPN
Technology Technology Semiconductors (Equip) 2 ENTG, VECO
Commodities Technology Semiconductors (Solar) 6 CSIQ, ENPH, JKS, RUN, SEDG, SPWR


Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Retail Consumer Services Consumer Electronics/Video Chains -2 MCS, RDI
Relative strength drops by 1%
Commodities Energy Coal Mining -3 ARCH, BTU, CNX


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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