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Daily stock market update January 6, 2021 - Market show mixed signals
How is stock market today?
Market show mixed signals as Nasdaq suffers today but other indices prevail after democrats might have the majority seats and vote in the senate. This gives Biden more power to fulfill his agenda. That sparks huge rally in industrials, materials, financials, clean energy stocks, retails due to possible stimulus and bigger infrastructure bill in the future. The big techs suffer due to possibly more regulation.
What is the current support level?
Nasdaq suffers a drop today, but S&P 500, DJIA and Russell 2000 all made a new high.
- NASDAQ - above its 50 days moving average line near 12100; current at 12740
- S&P 500 - above its 50 days moving average line near 3600; current at 3748
- DJIA - above its 50 days moving average line near 29400; current at 30829
- RUSSELL 2000 - above its 50 days moving average line near 1825; current at 2057
Psychological levels
- Nasdaq is 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 so many industry groups with strength. Not all sectors and groups have been analyzed.
| Sector | Industry | Sub-group | # | Stocks |
| Technology | Technology | EDP Services (Medical) | 3 | CHNG, SLP, TRHC |
| Technology | Technology | Computer Manufacturing | 2 | LOGI, TACT |
| Technology | Technology | Semiconductors (Equip) | 7 | ACLS, AMAT, COHU, KLAC, LRCX, MKSI, UCTT |
| Technology | Technology | Semiconductors (Manufacturing) | 13 | AMKR, CREE, CTS, DIOD, MCHP, MTSI, MX, ON, POWI, ROG, STM, TSEM, TSM |
| Technology | Consumer Durables | Telecommunications Equipment | 3 | AAOI, LITE, VIAV |
| Retail | Consumer Services | Clothing/Shoe/Accessory Stores | 5 | CRI, HBI, PVH, TPR, UFI |
| Retail | Consumer Non-Durables | Shoe Manufacturing | 5 | CROX, DECK, RCKY, SKX, WWW |
| Retail | Capital Goods | Auto Parts:O.E.M. (Equipment) | 8 | APTV, DAN, GNTX, LDL, MGA, MOD, THRM, WKHS |
| Retail | Consumer Durables | Specialty Chemicals | 6 | APHA, CGC, CRON, GNLN, OGI, TLRY |
| Retail | Consumer Non-Durables | Package Goods/Cosmetics | 5 | HLF, IFF, MED, NUS, PBH |
| Retail | Capital Goods | Industrial Machinery/Components | 5 | GLW, IDCC, SYNA, TRMB, ZBRA |
| Retail | Consumer Non-Durables | Packaged Foods | 2 | ADM, ANDE |
| Retail | Consumer Services | Catalog/Specialty Distribution | 3 | APRN, CVGW, LNDC |
| Retail | Consumer Durables | Office Equipment/Supplies/Services | 2 | FLXS, LEG |
| Retail | Consumer Non-Durables | Plastic Products | 2 | MIDD, NWL |
| Retail | Consumer Services | Hotels/Resorts (Gaming) | 3 | BYD, IGT, WBAI |
| Retail | Consumer Services | Television Services | 3 | DISCA, DISCK, TGNA |
| Retail | Consumer Services | Automotive Aftermarket (Parts) | 3 | GPC, LKQ, MNRO |
| Retail | Consumer Services | Department/Specialty Retail Stores | 3 | BIG, DG, FIVE |
| Retail | Health Care | Medical/Nursing Services | 2 | CVS, WBA |
| Retail | Consumer Services | Other Specialty Stores | 3 | BBBY, ETH, SNBR |
| Retail | Consumer Services | Department/Specialty Retail Stores | 3 | PSMT, TGT, WMT |
| Industrial | Consumer Durables | Consumer Electronics/Appliances | 4 | AAON, AOS, FIX, WSO |
| Industrial | Basic Industries | Mining & Quarrying of Nonmetallic Minerals (No Fuels) | 5 | CRH, EXP, MLM, SUM, VMC |
| Industrial | Consumer Durables | Building Products | 7 | APOG, AWI, AYI, CSTE, FRTA, GCP, OC |
| Industrial | Capital Goods | Engineering & Construction | 11 | ACM, AGX, FLR, GVA, HIL, MTZ, PRIM, PWR, ROAD, STRL, TPC |
| Industrial | Finance | Diversified Commercial Services | 2 | IBP, MYRG |
| Industrial | Basic Industries | Major Chemicals | 4 | CE, HUN, VNTR, WLK |
| Industrial | Basic Industries | Major Chemicals: Plastics | 4 | DOW, EMN, KRA, TSE |
| Industrial | Basic Industries | Major Chemicals: Others | 16 | ALB, APD, ASH, ASPN, BCPC, CC, FF, FUL, GRA, LIN, MTX, NGVT, OEC, SCL, SLCA, SOI |
| Industrial | Miscellaneous | Business Services | 2 | BAH, MMS |
| Industrial | Miscellaneous | Office Equipment/Supplies/Services | 2 | ARC, PBI |
| Industrial | Technology | Diversified Commercial Services | 6 | HEES, HRI, RCII, TGH, UHAL, URI |
| Industrial | Miscellaneous | Business Services (Outsourcing) | 2 | HQY, UNF |
| Industrial | Technology | Professional Services | 4 | BBSI, KELYA, KFRC, TBI |
Which industry groups from recent strength show weakness today?
| Relative strength drops by 1% | ||||
| Technology | Technology | Computer Software: Prepackaged Software (Desktop) | -2 | ADBE, MSFT |
| Relative strength drops by 5% | ||||
| Technology | Technology | Electronic Components | 3 | MU, SGH, TDC |
| Relative strength drops by 2% | ||||
| Technology | Technology | Radio And Television Broadcasting And Communications Equipment | 2 | CLRO, DY |
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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