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Daily stock market update December 7, 2020 - Market showing mixed signals

How is stock market today?

Market show mixed signals as Nasdaq continue to power up higher. Other indices are down slightly.

What is the current support level?

Nasdaq make another new high.

S&P 500, Russell 2000 and DJIA are trying to hold near their highs. 

  • NASDAQ - above its 50 days moving average line near 11300; current at 12519
  • S&P 500 - above its 50 days moving average line near 3400; current at 3691
  • DJIA - above its 50 days moving average line near 28000; current at 30069
  • RUSSELL 2000 - above its 50 days moving average line near 1580; current at 1891

Psychological levels

  • Nasdaq is hitting new high above 12000.
  • S&P 500 is above 3600.
  • Dow Jones Industrial Average is above 30000.
  • Small cap Russell 2000 is above 1800.

Which industry groups show strength?

There are not much industry groups with strength. 

Sector Industry Sub-group # Stocks
Technology Technology EDP Services (Gaming) 3 ATVI, TTWO, ZNGA
Technology Consumer Durables Telecommunications Equipment 4 CIEN, CLFD, INFN, VIAV
Commodities Basic Industries Precious Metals 9 AEM, AGI, BVN, KGC, KL, NEM, PAAS, PVG, WPM


Which industry groups from recent strength show weakness today?

Relative strength drops by 6%
Technology Technology Computer Software: Prepackaged Software (Education/Media) 2 BCOV, SPOT
Relative strength drops by 6%
Technology Technology Computer Software: Prepackaged Software (Security) 6 CMCM, CRWD, OKTA, PFPT, VRSN, ZS
Relative strength drops by 10%
Technology Technology EDP Services (Tech Services) 7 ACN, CACI, DAVA, GIB, HPE, PRFT, RAMP
Relative strength drops by 3%
Technology Technology Semiconductors 3 AVGO, CEVA, RMBS
Relative strength drops by 1%
Technology Technology Computer Software: Programming, Data Processing (Content) 5 BIDU, DHX, FENG, FTCH, SFUN
Relative strength drops by 1%
Technology Technology Radio And Television Broadcasting And Communications Equipment 2 CASA, COMM
Relative strength drops by 2%
Retail Consumer Services Other Specialty Stores 2 KIRK, LOVE
Relative strength drops by 3%
Health Health Care Major Pharmaceuticals 17 AMGN, APLS, ARGX, ARVN, BNTX, CRSP, EDIT, EXAS, FMTX, HZNP, INO, MRNA, NTLA, QURE, SGEN, TBIO, VNDA
Relative strength drops by 9%
Health Health Care Medical/Dental Instruments 10 ALGN, ANGO, BAX, BSX, COO, GMED, ITGR, NVCR, SNN, TFX
Relative strength drops by 1%
Health Health Care Biotechnology: Electromedical & Electrotherapeutic Apparatus -2 FONR, STE
Relative strength drops by 9%
Financial Finance Investment Managers 13 AMG, ARCC, ARES, BEN, CG, FOCS, IVZ, MCC, MN, STEP, STT, WDR, WETF
Relative strength drops by 1%
Financial Consumer Services Real Estate Investment Trusts 14 AIV, CPT, CRESY, CTRE, EPRT, HIW, INVH, MGP, MPW, PCH, RYN, SRC, UDR, WY


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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