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Daily stock market update January 4, 2021 - Market drop on new year
How is stock market today?
Market drop on first trading session of 2021. There was no particular news other than the senate run off tomorrow on Tuesday Jan. 5, 2021. The two senate seats could give Democrats the power in the senate.
What is the current support level?
Nasdaq, S&P 500, DJIA and Russell 2000 drop below its 10 days moving average and to near its 21 days moving average. This is critical support level for this rally to continue.
- NASDAQ - above its 50 days moving average line near 12100; current at 12698
- S&P 500 - above its 50 days moving average line near 3600; current at 3756
- DJIA - above its 50 days moving average line near 29400; current at 30223
- RUSSELL 2000 - above its 50 days moving average line near 1825; current at 1945
Psychological levels
- Nasdaq is 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 few industry groups with strength.
| Sector | Industry | Sub-group | # | Stocks |
| Retail | Capital Goods | Auto Manufacturing | 2 | NIO, TSLA |
| Retail | Health Care | Medical/Nursing Services | 2 | CVS, WBA |
| Commodities | Basic Industries | Precious Metals | 12 | AEM, AGI, AU, FNV, GOLD, KGC, KL, MUX, NEM, PAAS, PVG, WPM |
| Commodities | Energy | Oil & Gas Production (Canada) | 2 | CNQ, ERF |
Which industry groups from recent strength show weakness today?
| Relative strength drops by 2% | ||||
| Technology | Technology | Computer Software: Prepackaged Software (Security) | -2 | CRWD, OKTA |
| Relative strength drops by 1% | ||||
| Technology | Technology | Semiconductors (Equip) | 8 | ACLS, COHR, EMKR, FORM, LRCX, MKSI, TER, UCTT |
| Relative strength drops by 2% | ||||
| Retail | Capital Goods | Industrial Machinery/Components | -2 | GLW, OLED |
| Relative strength drops by 7% | ||||
| Retail | Consumer Durables | Office Equipment/Supplies/Services | -5 | BSET, FLXS, HNI, MLHR, SCS |
| Relative strength drops by 1% | ||||
| Industrial | Basic Industries | Major Chemicals: Others | 7 | ACET, ASPN, BCPC, CBT, CC, SCL, SLCA |
| Relative strength drops by 1% | ||||
| Industrial | Miscellaneous | Business Services (Outsourcing) | -4 | ADP, CTAS, PAYX, TNET |
| Below 50 days moving average | ||||
| Industrial | Transportation | Air Freight/Delivery Services | -2 | FDX, UPS |
| Relative strength drops by 1% | ||||
| Health | Finance | Specialty Insurers | 4 | CRVL, HCSG, HMSY, VCRA |
| Relative strength drops by 1% | ||||
| Commodities | Energy | Industrial Machinery/Components | 8 | AMRC, AY, BLDP, CWEN, NEP, PLUG, REGI, TPIC |
| Relative strength drops by 1% | ||||
| Financial | Capital Goods | Homebuilding | -2 | BZH, LEN |
| Relative strength drops by 1% | ||||
| Financial | Consumer Services | Real Estate Investment Trusts | -3 | BXMT, GPMT, LADR |
| Relative strength drops by 1% | ||||
| Financial | Finance | Property-Casualty Insurers | -2 | SIGI, TRV |
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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