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Daily stock market update October 8, 2020 - Market trend higher
How is stock market today?
Market continue to trend higher as small cap Russell 2000 lead.
What is the current support level?
Nasdaq, S&P 500, and DJIA continue to move higher from its 50 days moving average.
Russell 2000 made a new high since the pandemic.
- DJIA - above its 50 days moving average line near 27650; current at 28425
- S&P 500 - above its 50 days moving average line near 3360; current at 3446
- NASDAQ - above its 50 days moving average line near 10800; current at 11420
- RUSSELL 2000 - above its 50 days moving average line near 1530; current at 1628
Which industry groups show strength?
There are many industry groups with strength.
Sector | Industry | Sub-group | # | Stocks |
Technology | Technology | Computer Software: Prepackaged Software (Financial) | 4 | ACIW, PEGA, QTWO, SSNC |
Technology | Technology | EDP Services (Tech Services) | 8 | CTSH, GLOB, HPE, IBM, INFY, PLUS, VRTU, WIT |
Retail | Consumer Services | Clothing/Shoe/Accessory Stores | 5 | GIL, HBI, LEVI, TPR, UFI |
Retail | Consumer Durables | Specialty Chemicals | 6 | ACB, APHA, CGC, CRON, OGI, TLRY |
Retail | Consumer Services | Other Specialty Stores | 2 | BBBY, SNBR |
Retail | Consumer Services | Other Specialty Stores (Leisure) | 3 | HIBB, POOL, WINA |
Industrial | Basic Industries | Mining & Quarrying of Nonmetallic Minerals (No Fuels) | 5 | CRH, EXP, MLM, SUM, VMC |
Industrial | Consumer Durables | Building Products | 8 | AMWD, APOG, ATKR, BLD, MWA, OC, PGTI, TREX |
Industrial | Capital Goods | Engineering & Construction | 7 | ACM, AGX, FLR, GVA, MTZ, PWR, TPC |
Industrial | Finance | Diversified Commercial Services | 3 | IBP, MYRG, ROL |
Industrial | Basic Industries | Paints/Coatings | 2 | PPG, RPM |
Industrial | Basic Industries | Major Chemicals: Plastics | 2 | KRA, TSE |
Industrial | Basic Industries | Major Chemicals: Others | 6 | ALB, APD, BCPC, MTX, OEC, WDFC |
Industrial | Technology | Advertising | 2 | LAMR, QNST |
Industrial | Capital Goods | Electrical Products | 2 | ITRI, MTD |
Industrial | Consumer Durables | Metal Fabrications | 5 | AME, AZZ, FELE, ROK, WIRE |
Industrial | Miscellaneous | Industrial Machinery/Components | 4 | AVT, BELFB, LFUS, VSH |
Industrial | Energy | Industrial Machinery/Components | 2 | DDD, SSYS |
Industrial | Transportation | Trucking Freight/Courier Services | 2 | SNDR, XPO |
Industrial | Transportation | Trucking Freight/Courier Services | 3 | FWRD, JBHT, SAIA |
Industrial | Basic Industries | Electric Utilities: Central | 6 | AEP, EIX, ETR, IDA, NEE, PNW |
Health | Health Care | Major Pharmaceuticals (Generic Drugs) | 3 | MYL, RDY, TARO |
Commodities | Energy | Industrial Machinery/Components | 11 | AMRC, AQN, AY, BEPC, BLDP, CWEN, NEP, ORA, PLUG, REGI, TPIC |
Financial | Finance | Major Banks (Midwest) | 5 | ASB, CBSH, HBNC, TCF, WTFC |
Financial | Finance | Major Banks | 6 | BCS, BK, DB, MS, RY, UBS |
Financial | Finance | Major Banks (Northeast) | 5 | BMTC, CNOB, EGBN, MTB, SASR |
Financial | Finance | Major Banks (Southeast) | 7 | ABCB, BXS, FBP, FHN, SFNC, SMMF, SNV |
Financial | Finance | Major Banks (Regional) | 5 | CMA, PNC, RF, SIVB, USB |
Financial | Finance | Major Banks (West) | 8 | ABTX, CADE, EWBC, FRC, HTH, IBTX, PB, WAL |
Financial | Finance | Investment Bankers/Brokers/Service | 3 | HLI, LPLA, MC |
Financial | Finance | Major Banks (Savings) | 3 | FFBC, STL, WSFS |
Financial | Finance | Real Estate | 2 | CBRE, FOR |
Which industry groups from recent strength show weakness today?
Relative strength drops by 6% | ||||
Retail | Capital Goods | Auto Parts:O.E.M. (Equipment) | 7 | LEA, MGA, MOD, MTOR, TEN, THRM, VC |
Relative strength drops by 1% | ||||
Financial | Finance | Finance: Consumer Services | 2 | CIT, WD |
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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