Life is memorable. Share your experience. Help others. Return the favor. Terms Of Use Privacy Policy About FAQ Help Contact Us

As an Amazon Associate and affiliate with other third parties, Echofavor earn from qualifying purchases and display advertisements.

View Coupon

Daily stock market update October 6, 2020 - Market reverse lower

October 07, 2020
MCBOSS CAPITAL
53 views

market update

How is stock market today?

Market reverse lower as news break out that Trump is not going to pass the stimulus proposed by Democrats.

What is the current support level?

Nasdaq, S&P 500, and DJIA fell to near its 50 days moving average. Watch for support at this level.

Russell 2000 hit a new recent intraday high before falling back.

DJIA - above its 50 days moving average line near 27650; current at 27772
S&P 500 - above its 50 days moving average line near 3360; current at 3360
NASDAQ - above its 50 days moving average line near 10800; current at 11120
RUSSELL 2000 - above its 50 days moving average line near 1530; current at 1577

Which industry groups show strength?

There are a few industry groups with strength.

Sector	Industry	Sub-group	#	Stocks
Retail	Capital Goods	Auto Parts:O.E.M. (Equipment)	7	LEA, MGA, MOD, MTOR, TEN, THRM, VC

Industrial	Finance	Diversified Commercial Services	2	MYRG, ROL
Industrial	Consumer Durables	Metal Fabrications	5	AME, AZZ, FELE, GNRC, ROK
Industrial	Basic Industries	Electric Utilities: Central	5	AEP, EIX, ETR, IDA, PNW

Commodities	Energy	Industrial Machinery/Components	9	AQN, AY, BLDP, CWEN, KEN, NEP, ORA, PLUG, TPIC

Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Technology	Technology	Semiconductors (Equip)	2	ENTG, VECO

Relative strength drops by 1%
Retail	Consumer Non-Durables	Beverages Alcoholic (Production/Distribution)	2	BUD, MGPI

Below 50 days moving average
Retail	Basic Industries	Package Goods/Cosmetics	-2	CHD, ECL

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.