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Daily stock market update October 26, 2020 - Market fell hard

October 27, 2020
MCBOSS CAPITAL
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market update

How is stock market today?

Market fell hard. There was no hiding today from today's selloff. Every sector got hit hard. There is lots of uncertainty about the election and is just about one week away. News about huge rise in covid-19 cases in U.S. and lack of progress in the stimulus definitely pour more gas in the fire selloff today.

Be cautious as market may be signaling a further downfall from here.

What is the current support level?

All indices fell hard today. Nasdaq and S&P 500 is trying to hold onto its 50 days moving average. DJIA pierced its 50 days moving average, which is not a good sign. Russell 2000 is holding up the best and is at 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 28000; current at 28335
S&P 500 - above its 50 days moving average line near 3400; current at 3400
NASDAQ - above its 50 days moving average line near 11280; current at 11358
RUSSELL 2000 - above its 50 days moving average line near 1530; current at 1605

Which industry groups show strength?

There are no industry groups with strength.

Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Retail	Consumer Services	Hotels/Resorts (Gaming)	-2	DKNG, IGT

Relative strength drops by 4%
Retail	Consumer Services	Marine Transportation	-3	CCL, CUK, NCLH

Relative strength drops by 1%
Industrial	Energy	Industrial Machinery/Components	-3	DDD, PRLB, SSYS

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.