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Daily stock market update October 2, 2020 - Market gave back some

How is stock market today?

Market show mixed signals as Nasdaq dropped significantly.

Overall, the market did well this week with small cap Russell 2000 performing better than other indices.

Index Sep. 28 - Oct. 2
Nasdaq 1.48%
S&P 500 1.52%
Dow Jones 1.87%
Russell 2000 4.37%

What is the current support level?

Nasdaq is back down to its 50 days moving average. This is a crucial support area. Watch for signs of next move at this level.

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

  • DJIA - above its 50 days moving average line near 27000; current at 27682
  • S&P 500 - above its 50 days moving average line near 3300; current at 3348
  • NASDAQ - above its 50 days moving average line near 10800; current at 11326
  • RUSSELL 2000 - below its 50 days moving average line; current at 1539

Which industry groups show strength?

There are few industry groups with strength. 

Sector Industry Sub-group # Stocks
Retail Consumer Services Clothing/Shoe/Accessory Stores 3 GOOS, LEVI, OXM
Retail Consumer Non-Durables Shoe Manufacturing 4 CROX, DECK, SKX, WWW
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 Basic Industries Mining & Quarrying of Nonmetallic Minerals (No Fuels) 2 EXP, MLM
Commodities Technology Semiconductors (Solar) 8 CSIQ, ENPH, FSLR, JKS, NOVA, RUN, SEDG, SPWR
Financial Finance Investment Bankers/Brokers/Service 6 AMP, AMTD, EVR, MKTX, RJF, SCHW


Which industry groups from recent strength show weakness today?

None

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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