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Daily stock market update October 1, 2020 - Market continue to progress

How is stock market today?

Market continue to progress higher. This is a good sign.

What is the current support level?

Nasdaq make further move above its 50 days moving average.

S&P 500 and Dow Jones are holding above 50 days moving average. This is a good sign. Russell 2000 is still below 50 days moving average.

  • DJIA - above its 50 days moving average line near 27000; current at 27816
  • S&P 500 - above its 50 days moving average line near 3300; current at 3380
  • NASDAQ - above its 50 days moving average line near 10800; current at 11326
  • RUSSELL 2000 - below its 50 days moving average line; current at 1531

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) 3 ANSS, APPN, CDNS
Technology Technology Computer Software: Prepackaged Software (Enterprise) 7 DDOG, GDDY, PAYC, PCTY, PLAN, SHOP, WDAY
Technology Technology Computer Software: Prepackaged Software (Security) 2 CYBR, SAIL
Retail Consumer Services Clothing/Shoe/Accessory Stores 4 GIL, GOOS, LEVI, UFI
Retail Consumer Non-Durables Shoe Manufacturing 3 CROX, DECK, SKX
Retail Consumer Non-Durables Packaged Foods 5 CAG, GIS, PEP, POST, UL
Retail Consumer Services Hotels/Resorts (Gaming) 3 BYD, DKNG, SGMS
Retail Consumer Services Other Specialty Stores 2 BBBY, LZB
Industrial Miscellaneous Business Services (Market Research) 2 MORN, TRI
Commodities Energy Industrial Machinery/Components 2 BLDP, PLUG
Commodities Technology Semiconductors (Solar) 8 CSIQ, ENPH, FSLR, JKS, NOVA, RUN, SEDG, SPWR


Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Industrial Transportation Railroads -3 CSX, NSC, UNP

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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