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Daily stock market update November 24, 2020 - Market rally to new highs

November 25, 2020
MCBOSS CAPITAL
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market update

How is stock market today?

Market rally to new highs as indices continue to stride higher. The same trend continues with accumulation mostly in retail, industrial, energy and financial stocks. These are stocks that had performed poorly since the Covid started. Due to vaccine available soon in U.S., these underperformed stocks have continue rising.

What is the current support level?

Nasdaq, S&P 500 and DJIA are above its 10 days moving average.

Russell 2000 continue to lead as it hit new high again today. It is still above its 10 days moving average.

NASDAQ - above its 50 days moving average line near 11300; current at 12036
S&P 500 - above its 50 days moving average line near 3400; current at 3635
DJIA - above its 50 days moving average line near 28000; current at 30046
RUSSELL 2000 - above its 50 days moving average line near 1580; current at 1853

Psychological levels

Nasdaq is now hitting new high above 12000.
S&P 500 is now hitting new high above 3600.
Dow Jones Industrial Average hits new high and is now above 30000.
Small cap Russell 2000 is definitely leading this market rally and is now above 1800.

Which industry groups show strength?

There are too many industry groups with strength. There was not enough time to analyze all industry groups. Only some are shown here.

Sector	Industry	Sub-group	#	Stocks
Technology	Technology	Computer Software: Prepackaged Software (Design)	2	ADSK, APPN
Technology	Technology	Electronic Components	4	MU, NTAP, SIMO, STX
Technology	Technology	Semiconductors (Equip)	4	AMAT, CCMP, UCTT, VECO
Technology	Technology	Semiconductors (Manufacturing)	8	CREE, CTS, DIOD, IMOS, INTC, ON, QRVO, TSEM
Technology	Technology	Computer Software: Programming, Data Processing (Content)	4	BILI, CARG, DHX, FTCH
Technology	Consumer Durables	Telecommunications Equipment	2	INFN, VIAV
Technology	Technology	Radio And Television Broadcasting And Communications Equipment	5	CASA, CLRO, COMM, RNET, VSAT

Retail	Consumer Services	Clothing/Shoe/Accessory Stores	7	CRI, GIII, GOOS, ICON, OXM, PVH, RL
Retail	Capital Goods	Auto Manufacturing	5	F, FCAU, GM, NIO, TSLA
Retail	Capital Goods	Auto Parts:O.E.M. (Equipment)	8	APTV, LDL, LEA, MOD, STRT, THRM, VC, WKHS
Retail	Consumer Durables	Automotive Aftermarket	3	CTB, GT, TWI
Retail	Consumer Non-Durables	Beverages Non-Alcoholic (Production/Distribution)	2	CCEP, NBEV
Retail	Consumer Non-Durables	Consumer Electronics/Appliances	6	ACB, APHA, CGC, CRON, OGI, TLRY
Retail	Consumer Non-Durables	Package Goods/Cosmetics	2	MED, USNA
Retail	Capital Goods	Industrial Machinery/Components	4	REZI, ST, SYNA, ZBRA
Retail	Consumer Non-Durables	Plastic Products	2	NWL, WBT
Retail	Consumer Services	Hotels/Resorts (Lodging)	3	H, MAR, STAY
Retail	Consumer Services	Consumer Electronics/Video Chains	4	AMC, FUBO, MCS, RDI
Retail	Miscellaneous	Business Services	3	MMYT, SABR, TRVG
Retail	Consumer Services	Television Services	3	DIS, GHC, MDP
Retail	Consumer Services	Television Services	4	DISCA, DISCK, GTN, SSP
Retail	Consumer Services	RETAIL: Building Materials	3	FAST, LL, MSM
Retail	Consumer Non-Durables	Consumer Specialties	2	MOV, SIG
Retail	Consumer Services	Clothing/Shoe/Accessory Stores	7	ANF, DLTH, EXPR, GES, GPS, TLYS, ZUMZ
Retail	Consumer Services	Department/Specialty Retail Stores	3	JWN, KSS, M
Retail	Consumer Services	Department/Specialty Retail Stores	2	DLTR, FIVE
Retail	Consumer Services	Other Specialty Stores	4	AAN, HOME, KIRK, WSM
Retail	Consumer Services	Department/Specialty Retail Stores	2	SHLD, TGT
Retail	Transportation	Air Freight/Delivery Services	10	AAL, ALGT, ALK, DAL, HA, JBLU, LUV, SAVE, SKYW, UAL

Which industry groups from recent strength show weakness today?

Relative strength drops by 10%
Technology	Technology	Computer Software: Prepackaged Software (Special)	3	MFGP, RP, TEAM

Relative strength drops by 1%
Technology	Technology	Computer Software: Prepackaged Software (Enterprise)	4	ATEN, AZPN, MIXT, PLTR

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.