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Daily stock market update October 21, 2020 - Market volatility continues

October 22, 2020
MCBOSS CAPITAL
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market update

How is stock market today?

Market volatility continues as market weights uncertainty around stimulus and election. Watch for support at key moving averages.

What is the current support level?

Nasdaq and Russell 2000 fell below its 10 days moving average.

S&P 500 and DJIA fell to its 21 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 28210
S&P 500 - above its 50 days moving average line near 3360; current at 3435
NASDAQ - above its 50 days moving average line near 10800; current at 11484
RUSSELL 2000 - above its 50 days moving average line near 1530; current at 1603

Which industry groups show strength?

There are few industry groups with strength.

Sector	Industry	Sub-group	#	Stocks
Technology	Technology	Computer Software: Programming, Data Processing (Content)	6	ATHM, GOOG, GOOGL, PINS, SNAP, TWTR

Retail	Consumer Durables	Specialty Chemicals	3	CGC, GNLN, TLRY

Financial	Finance	Commercial Banks	2	BSMX, HDB

Which industry groups from recent strength show weakness today?

Relative strength drops by 3%
Industrial	Technology	Professional Services	-2	JOBS, MAN

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.