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Daily stock market update October 15, 2020 - Market suffered third down day

October 16, 2020
MCBOSS CAPITAL
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market update

How is stock market today?

Market suffered third down day but the indices closed well off near intraday high.

What is the current support level?

Nasdaq, S&P 500, DJIA and Russell 2000 bounced of its 10 days moving average and are all sitting above its 50 days moving average.

DJIA - above its 50 days moving average line near 27650; current at 28494
S&P 500 - above its 50 days moving average line near 3360; current at 3483
NASDAQ - above its 50 days moving average line near 10800; current at 11713
RUSSELL 2000 - above its 50 days moving average line near 1530; current at 1638

Which industry groups show strength?

There are not many industry groups with strength.

Sector	Industry	Sub-group	#	Stocks
Technology	Technology	Computer Software: Prepackaged Software (Design)	2	ADSK, APPN
Technology	Technology	Computer Software: Prepackaged Software (Enterprise)	3	BAND, NET, TWLO

Retail	Consumer Non-Durables	Packaged Foods	2	ADM, ANDE

Commodities	Technology	Semiconductors (Solar)	2	FSLR, JKS

Financial	Finance	Investment Managers	7	AB, APAM, BLK, EV, TROW, VRTS, WDR

Which industry groups from recent strength show weakness today?

Relative strength drops by 4%
Retail	Consumer Durables	Specialty Chemicals	-2	ACB, APHA

Relative strength drops by 1%
Health	Health Care	Major Pharmaceuticals (Diversified)	-2	GSK, LLY

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.