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Daily stock market update December 29, 2020 - Market reverse lower after hitting new high

December 30, 2020
MCBOSS CAPITAL
110 views

market update

How is stock market today?

Market reverse lower after hitting new intraday high. This might be a bad sign for short term.

What is the current support level?

The indices hit new intraday high, but reverse lower. Russell 2000 fell below its 10 days moving average. This is the first time this index drops below this moving average since the start of the run in early November.

NASDAQ - above its 50 days moving average line near 11700; current at 12850
S&P 500 - above its 50 days moving average line near 3400; current at 3727
DJIA - above its 50 days moving average line near 28000; current at 30335
RUSSELL 2000 - above its 50 days moving average line near 1580; current at 1959

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 below 2000.

Which industry groups show strength?

There are no industry groups with strength.

Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Retail	Capital Goods	Auto Parts:O.E.M. (Equipment)	3	MGA, QS, STRT

Relative strength drops by 10%
Retail	Consumer Services	Consumer Electronics/Video Chains	2	FUBO, RDI

Relative strength drops by 1%
Industrial	Energy	Industrial Machinery/Components	5	DDD, PRLB, SSYS, VJET, XONE

Relative strength drops by 2%
Health	Health Care	Major Pharmaceuticals	12	AERI, BLI, CRSP, EDIT, HRTX, IONS, NGM, NTLA, SGMO, SRNE, SUPN, TRVN

Relative strength drops by 1%
Health	Health Care	Medical/Dental Instruments	3	ABMD, NARI, PODD

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.