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Daily stock market update December 8, 2020 - Market continue to rise up

December 09, 2020
MCBOSS CAPITAL
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market update

How is stock market today?

Market continue to rise up, but a key metric of the underlying market shows less industry groups are under accumulation. This might be one of the signs of an exhausted market. Stay caution going forward as there may be another pull back coming.

What is the current support level?

Nasdaq, S&P 500 and small cap Russell 2000 make another new high.

DJIA move up slightly but did not make new high.

NASDAQ - above its 50 days moving average line near 11300; current at 12582
S&P 500 - above its 50 days moving average line near 3400; current at 3702
DJIA - above its 50 days moving average line near 28000; current at 30173
RUSSELL 2000 - above its 50 days moving average line near 1580; current at 1917

Psychological levels

Nasdaq is hitting new high above 12000.
S&P 500 is above 3700.
Dow Jones Industrial Average is above 30000.
Small cap Russell 2000 is above 1900.

Which industry groups show strength?

There are some industry groups with strength.

Sector	Industry	Sub-group	#	Stocks
Technology	Technology	Computer Software: Prepackaged Software (Special)	2	AVLR, TYL
Technology	Technology	Computer Software: Prepackaged Software (Enterprise)	5	FSLY, NOW, PLTR, SMAR, TLND
Technology	Technology	Computer Software: Prepackaged Software (Financial)	2	INTU, SSNC
Technology	Technology	EDP Services (Gaming)	2	ATVI, TTWO
Technology	Technology	Computer Software: Prepackaged Software (Security)	4	CRWD, PFPT, VRSN, ZIXI
Technology	Technology	Semiconductors (Manufacturing)	4	CREE, IMOS, MTSI, ON
Technology	Public Utilities	Telecommunications Equipment (Integrated)	2	EGHT, T
Technology	Technology	Radio And Television Broadcasting And Communications Equipment	2	ADTN, BDC
Technology	Consumer Durables	Telecommunications Equipment	4	CIEN, CLFD, INFN, LITE
Technology	Technology	Radio And Television Broadcasting And Communications Equipment	2	CASA, GOGO

Retail	Consumer Non-Durables	Packaged Foods	2	BGS, LANC
Retail	Consumer Non-Durables	Farming/Seeds/Milling	2	MO, PM

Health	Health Care	Major Pharmaceuticals	8	APLS, BLI, BNTX, EDIT, FMTX, LPCN, NGM, NTLA

Commodities	Basic Industries	Precious Metals	3	AEM, AGI, KGC

Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Technology	Technology	Computer Software: Prepackaged Software (Database)	5	DBX, ESTC, MDB, ORCL, VRNS

Relative strength drops by 1%
Retail	Consumer Durables	Office Equipment/Supplies/Services	4	FLXS, HNI, MLHR, SCS

Relative strength drops by 1%
Retail	Consumer Services	Automotive Aftermarket (Parts)	-3	AZO, GPC, ORLY

Relative strength drops by 1%
Retail	Consumer Services	Other Specialty Stores	2	MIK, ULTA

Relative strength drops by 5%
Industrial	Capital Goods	Military/Government/Technical	6	BA, CODA, HEI, ISSC, MRCY, SPR

Relative strength drops by 1%
Commodities	Energy	Oil & Gas Production: Drilling	3	HP, PTEN, RIG

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.