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

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.

  

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