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Daily stock market update October 12, 2020 - Market power up higher
How is stock market today?
Market power up higher to start the week strong. Earnings season will be starting this week. There may be some volatility ahead.
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 28837
- S&P 500 - above its 50 days moving average line near 3360; current at 3534
- NASDAQ - above its 50 days moving average line near 10800; current at 11876
- RUSSELL 2000 - above its 50 days moving average line near 1530; current at 1649
Which industry groups show strength?
There are few industry groups with strength.
Sector | Industry | Sub-group | # | Stocks |
Technology | Technology | Computer Software: Prepackaged Software (Design) | 2 | ANSS, SNPS |
Retail | Consumer Durables | Specialty Chemicals | 4 | APHA, CGC, CRON, GNLN |
Retail | Consumer Non-Durables | Packaged Foods | 2 | FLO, PEP |
Industrial | Capital Goods | Engineering & Construction | 3 | GVA, MTZ, PWR |
Financial | Finance | Investment Bankers/Brokers/Service | 3 | BGCP, EVR, MC |
Which industry groups from recent strength show weakness today?
Relative strength drops by 2% | ||||
Technology | Technology | Computer Software: Prepackaged Software (Enterprise) | 7 | ATEN, FSLY, LPSN, MANH, PAYC, PLTR, TWLO |
Relative strength drops by 9% | ||||
Technology | Technology | Computer Software: Prepackaged Software (Financial) | 4 | ACIW, PEGA, QTWO, SSNC |
Relative strength drops by 1% | ||||
Technology | Technology | Computer Software: Prepackaged Software (Security) | 2 | CYBR, SAIL |
Relative strength drops by 4% | ||||
Technology | Technology | EDP Services (Tech Services) | 5 | CTSH, IBM, INFY, VRTU, WIT |
Relative strength drops by 2% | ||||
Industrial | Consumer Durables | Metal Fabrications | 6 | AME, AZZ, FELE, GNRC, ROK, WIRE |
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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