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Daily stock market update October 19, 2020 - Market losing streak continues

How is stock market today?

Market losing streak continues from last week. Watch for support at key moving averages.

What is the current support level?

Nasdaq fell below 10 days moving average. 

S&P 500 and DJIA fell below 10 days moving average, and also to its 21 days moving average.

Russell 2000 fell to its 10 days moving average. 

Watch for support at these key moving averages in coming days.

  • DJIA - above its 50 days moving average line near 27650; current at 28195
  • S&P 500 - above its 50 days moving average line near 3360; current at 3426
  • NASDAQ - above its 50 days moving average line near 10800; current at 11478
  • RUSSELL 2000 - above its 50 days moving average line near 1530; current at 1613

Which industry groups show strength?

There are not many industry groups with strength. 

Sector Industry Sub-group # Stocks
Technology Technology Electronic Components 3 MU, STX, WDC


Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Technology Technology Computer Software: Prepackaged Software (Enterprise) 3 BAND, NET, TWLO
Relative strength drops by 1%
Industrial Consumer Durables Building Products -2 ATKR, AYI
Relative strength drops by 6%
Industrial Transportation Trucking Freight/Courier Services -2 JBHT, LSTR


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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