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Daily stock market update October 16, 2020 - Market show weakness

October 17, 2020
MCBOSS CAPITAL
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market update

How is stock market today?

Market show weakness after it gave up a substantial gain earlier in the day.

Overall the market is still in an uptrend and put in four consecutive weeks up. Despite uncertainty with stimulus relief and election, the market is making good progress and holding on to the few weeks of gains.

Index	Oct. 12-16
Nasdaq	0.79%
S&P 500	0.19%
Dow Jones	0.07%
Russell 2000	-0.23%

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 28606
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 11671
RUSSELL 2000 - above its 50 days moving average line near 1530; current at 1633

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

Retail	Consumer Non-Durables	Packaged Foods	2	ADM, ANDE

Industrial	Technology	Industrial Machinery/Components	4	GE, MDU, PHG, ROP
Industrial	Capital Goods	Fluid Controls	3	BMI, ERII, IEX

Commodities	Technology	Semiconductors (Solar)	2	FSLR, JKS

Which industry groups from recent strength show weakness today?

Relative strength drops by 3%
Retail	Capital Goods	Auto Manufacturing	2	F, TSLA

Relative strength drops by 2%
Industrial	Miscellaneous	Industrial Machinery/Components	3	AVT, LFUS, VSH

Relative strength drops by 8%
Financial	Finance	Investment Managers	7	AB, APAM, BLK, EV, TROW, VRTS, WDR

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.