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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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