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Daily stock market update October 5, 2020 - Market conditions continue to improve

October 06, 2020
MCBOSS CAPITAL
104 views

market update

How is stock market today?

Market conditions continue to improve as all indices rise to recent highs.

What is the current support level?

Nasdaq is above its 50 days moving average. Watch for continued support at this level.

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

DJIA - above its 50 days moving average line near 27000; current at 28148
S&P 500 - above its 50 days moving average line near 3300; current at 3408
NASDAQ - above its 50 days moving average line near 10800; current at 11332
RUSSELL 2000 - below its 50 days moving average line; current at 1581

Which industry groups show strength?

There are more industry groups with strength.

Sector	Industry	Sub-group	#	Stocks
Retail	Consumer Services	Clothing/Shoe/Accessory Stores	4	HBI, LEVI, OXM, TPR
Retail	Consumer Services	Other Specialty Stores	2	HOME, SNBR
Retail	Consumer Services	Other Specialty Stores (Leisure)	3	HIBB, SPWH, WINA

Industrial	Basic Industries	Mining & Quarrying of Nonmetallic Minerals (No Fuels)	3	MLM, SUM, VMC
Industrial	Consumer Durables	Building Products	6	AMWD, APOG, ATKR, AYI, FBHS, TREX
Industrial	Capital Goods	Engineering & Construction	2	AGX, PWR
Industrial	Basic Industries	Major Chemicals	2	CE, LYB
Industrial	Technology	Diversified Commercial Services	6	AER, HEES, HRI, RCII, TGH, URI
Industrial	Consumer Durables	Metal Fabrications	3	ABB, GNRC, ROK
Industrial	Basic Industries	Electric Utilities: Central	4	AEP, EIX, ETR, PNW

Commodities	Energy	Industrial Machinery/Components	9	AQN, AY, BEP, BLDP, CWEN, KEN, ORA, PLUG, TPIC
Commodities	Technology	Semiconductors (Solar)	5	ENPH, FSLR, JKS, SEDG, SPWR

Commodities	Capital Goods	Construction/Ag Equipment/Trucks	2	MTW, TEX
Commodities	Basic Industries	Precious Metals	2	CLF, SCCO

Financial	Finance	Finance: Consumer Services	2	CIT, WD
Financial	Finance	Investment Bankers/Brokers/Service	4	AMP, BGCP, LPLA, RJF
Financial	Finance	Real Estate	2	CBRE, FSV

Which industry groups from recent strength show weakness today?

Relative strength drops by 2%
Retail	Consumer Non-Durables	Shoe Manufacturing	4	CROX, DECK, SKX, WWW

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.