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Daily stock market update October 13, 2020 - Market took a small step back

October 14, 2020
MCBOSS CAPITAL
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market update

How is stock market today?

Market took a small step back. Earnings season has started with mixed picture. There may be some volatility ahead.

What is the current support level?

Nasdaq, S&P 500, and DJIA are all sitting above its 50 days moving average.

Russell 2000 fell back a little, but has been doing well in recent weeks after making a new high since the pandemic.

DJIA - above its 50 days moving average line near 27650; current at 28679
S&P 500 - above its 50 days moving average line near 3360; current at 3511
NASDAQ - above its 50 days moving average line near 10800; current at 11863
RUSSELL 2000 - above its 50 days moving average line near 1530; current at 1636

Which industry groups show strength?

There are few industry groups with strength.

Sector	Industry	Sub-group	#	Stocks
Technology	Technology	Computer Software: Prepackaged Software (Special)	2	CTXS, YEXT
Technology	Technology	Computer Software: Prepackaged Software (Design)	2	ADSK, APPN

Retail	Consumer Non-Durables	Beverages Non-Alcoholic (Production/Distribution)	2	MNST, NBEV
Retail	Consumer Durables	Specialty Chemicals	3	APHA, ENR, GNLN

Which industry groups from recent strength show weakness today?

Relative strength drops by 10%
Retail	Consumer Non-Durables	Meat/Poultry/Fish	2	BYND, PPC

Relative strength drops by 1%
Industrial	Miscellaneous	Business Services (Market Research)	2	MORN, TRI

Relative strength drops by 4%
Financial	Finance	Major Banks	6	BCS, BK, DB, MS, RY, UBS

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.