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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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