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Daily stock market update October 22, 2020 - Market show a slight rebound
How is stock market today?
Market show a slight rebound but is still on a slight downward trend in recent days. Watch for support at key moving averages.
What is the current support level?
Nasdaq and Russell 2000 rebounded a bit from its 21 and 10 days moving average respectively.
S&P 500 and DJIA rebound from near its 50 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 28363
- S&P 500 - above its 50 days moving average line near 3360; current at 3453
- NASDAQ - above its 50 days moving average line near 10800; current at 11506
- RUSSELL 2000 - above its 50 days moving average line near 1530; current at 1630
Which industry groups show strength?
There are some industry groups with strength.
| Sector | Industry | Sub-group | # | Stocks |
| Technology | Technology | Computer Software: Programming, Data Processing (Content) | 5 | GOOG, GOOGL, PINS, SNAP, TWTR |
| Retail | Consumer Services | Clothing/Shoe/Accessory Stores | 3 | COLM, TPR, UA |
| Retail | Consumer Durables | Specialty Chemicals | 4 | CGC, CRON, OGI, TLRY |
| Retail | Consumer Services | Marine Transportation | 2 | CAR, SEAS |
| Retail | Miscellaneous | Business Services | 2 | EXPE, SABR |
| Commodities | Energy | Integrated oil Companies | 3 | EQT, PBR, XOM |
| Financial | Finance | Major Banks (Midwest) | 4 | ASB, BY, CBSH, WTFC |
| Financial | Finance | Major Banks (Northeast) | 4 | BMTC, CNBKA, MTB, WBS |
| Financial | Finance | Major Banks (Regional) | 3 | CMA, RF, SIVB |
| Financial | Finance | Major Banks (West) | 7 | CADE, EWBC, FRC, HTH, IBTX, TCBI, WAL |
| Financial | Finance | Property-Casualty Insurers | 4 | THG, TRV, WRB, Y |
Which industry groups from recent strength show weakness today?
| Relative strength drops by 1% | ||||
| Technology | Technology | Computer Software: Prepackaged Software (Design) | -2 | ANSS, CDNS |
| Relative strength drops by 3% | ||||
| Retail | Consumer Non-Durables | Beverages Non-Alcoholic (Production/Distribution) | 2 | MNST, NBEV |
| Relative strength drops by 7% | ||||
| Industrial | Basic Industries | Major Chemicals: Others | 6 | ALB, APD, BCPC, LIN, MTX, OEC |
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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