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Daily stock market update December 24, 2020 - Market close near recent highs

December 26, 2020
MCBOSS CAPITAL
54 views

market update

How is stock market today?

Market is holding tight as it close near recent highs.

Overall this week, market is mostly flat except for 8 consecutive weekly gains by small cap Russell 2000.

Index	Dec. 25
Nasdaq	0.38%
S&P 500	-0.17%
Dow Jones	0.07%
Russell 2000	1.72%

What is the current support level?

Nasdaq and Russell 2000 are near its recent high.

S&P 500 and DJIA continue to hover around its 10 days moving average.

NASDAQ - above its 50 days moving average line near 11700; current at 12804
S&P 500 - above its 50 days moving average line near 3400; current at 3703
DJIA - above its 50 days moving average line near 28000; current at 30199
RUSSELL 2000 - above its 50 days moving average line near 1580; current at 2003

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 2000.

Which industry groups show strength?

There are few industry groups with strength.

Sector	Industry	Sub-group	#	Stocks
Technology	Technology	Computer Software: Prepackaged Software (Special)	7	AI, ALRM, APPF, BL, SPSC, YEXT, ZUO
Technology	Technology	EDP Services (Medical)	2	SLP, VEEV
Technology	Consumer Durables	Telecommunications Equipment	2	AAOI, LITE

Retail	Consumer Durables	Office Equipment/Supplies/Services	2	BSET, TPX

Commodities	Technology	Semiconductors (Solar)	3	CSIQ, RUN, SPWR

Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Technology	Technology	Computer Software: Prepackaged Software (Design)	2	ANSS, SNPS

Relative strength drops by 1%
Technology	Technology	Computer Manufacturing	2	HPQ, SMCI

Relative strength drops by 1%
Financial	Finance	Major Banks	4	BAC, BCS, GS, JPM

Relative strength drops by 1%
Financial	Finance	Real Estate	6	ASR, FOR, KW, MMI, RDFN, TPL

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.