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Daily stock market update October 9, 2020 - Market roars higher
How is stock market today?
Market roars higher as major indices turn out strong gains this week.
| Index | Oct. 5-9 |
| Nasdaq | 4.56% |
| S&P 500 | 3.84% |
| Dow Jones | 3.27% |
| Russell 2000 | 6.38% |
What is the current support level?
Nasdaq, S&P 500, and DJIA continue to move higher above 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 28586
- S&P 500 - above its 50 days moving average line near 3360; current at 3477
- NASDAQ - above its 50 days moving average line near 10800; current at 11579
- RUSSELL 2000 - above its 50 days moving average line near 1530; current at 1637
Which industry groups show strength?
There are many industry groups with strength.
| Sector | Industry | Sub-group | # | Stocks |
| Technology | Technology | EDP Services (Tech Services) | 5 | CTSH, IBM, INFY, VRTU, WIT |
| Retail | Consumer Services | Clothing/Shoe/Accessory Stores | 3 | GIL, HBI, UFI |
| Retail | Consumer Durables | Specialty Chemicals | 4 | APHA, CGC, GNLN, TLRY |
| Retail | Consumer Services | Other Specialty Stores (Leisure) | 3 | HIBB, POOL, WINA |
| Industrial | Capital Goods | Engineering & Construction | 7 | ACM, AGX, FLR, GVA, MTZ, PWR, TPC |
| 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, LIN, MTX, OEC |
| Industrial | Consumer Durables | Metal Fabrications | 6 | AME, AZZ, FELE, GNRC, ROK, WIRE |
| Industrial | Miscellaneous | Industrial Machinery/Components | 3 | AVT, LFUS, VSH |
| Industrial | Energy | Industrial Machinery/Components | 2 | DDD, SSYS |
| Industrial | Transportation | Trucking Freight/Courier Services | 3 | FWRD, JBHT, SAIA |
| Industrial | Basic Industries | Electric Utilities: Central | 7 | AEP, AES, EIX, ETR, IDA, NEE, PNW |
| Health | Health Care | Major Pharmaceuticals (Generic Drugs) | 2 | RDY, TARO |
| Commodities | Energy | Industrial Machinery/Components | 9 | AMRC, AQN, AY, CWEN, NEP, ORA, PLUG, REGI, TPIC |
| Commodities | Technology | Semiconductors (Solar) | 6 | CSIQ, ENPH, FSLR, JKS, SEDG, SPWR |
| Commodities | Basic Industries | Precious Metals | 4 | AA, BHP, CLF, RIO |
| Financial | Finance | Major Banks (Midwest) | 5 | ASB, CBSH, HBNC, TCF, WTFC |
| Financial | Finance | Major Banks (Southeast) | 7 | ABCB, BXS, FBP, FHN, SFNC, SMMF, SNV |
| Financial | Finance | Major Banks (West) | 8 | ABTX, CADE, EWBC, FRC, HTH, IBTX, PB, WAL |
| Financial | Finance | Investment Bankers/Brokers/Service | 4 | HLI, LPLA, MC, SCHW |
| 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 3% | ||||
| Industrial | Consumer Durables | Consumer Electronics/Appliances | 2 | AAON, FIX |
| Relative strength drops by 3% | ||||
| Industrial | Miscellaneous | Business Services (Outsourcing) | 2 | ADP, EXLS |
| Relative strength drops by 3% | ||||
| Industrial | Consumer Durables | Containers/Packaging | 2 | BLL, SEE |
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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