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Daily stock market update December 14, 2020 - Market reverse lower
How is stock market today?
Market reverse lower after opening strong. This is not a good behavior of a market rally. Be mindful that market has run up a lot since early November. It may take the market to digest those gains at these levels.
What is the current support level?
Nasdaq and Russell 2000 made new high before reversing lower. They are both still above its 10 days moving average. Watch for support at this level.
Both S&P 500 and DJIA fell below its 10 days moving average. This is not a good sign.
- NASDAQ - above its 50 days moving average line near 11700; current at 12440
- S&P 500 - above its 50 days moving average line near 3400; current at 3647
- DJIA - above its 50 days moving average line near 28000; current at 29861
- RUSSELL 2000 - above its 50 days moving average line near 1580; current at 1913
Psychological levels
- Nasdaq is hitting new high above 12000.
- S&P 500 is below 3700.
- Dow Jones Industrial Average is below 30000.
- Small cap Russell 2000 is above 1900.
Which industry groups show strength?
There is not much industry group strength.
Sector | Industry | Sub-group | # | Stocks |
Technology | Technology | Computer Software: Prepackaged Software (Education/Media) | 2 | SYNC, TWOU |
Technology | Technology | EDP Services (Gaming) | 2 | ATVI, EA |
Technology | Technology | Computer Software: Prepackaged Software (Security) | 4 | CHKP, QLYS, TUFN, VRSN |
Health | Health Care | Major Pharmaceuticals | 11 | ALKS, CYTK, EXEL, INCY, INVA, LGND, RARE, REGN, SPPI, TBIO, TGTX |
Which industry groups from recent strength show weakness today?
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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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