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Daily stock market update January 7, 2021 - Market powered up higher
How is stock market today?
Market powered up higher as all indices hit new highs. Market seems to have decided that Biden's eventual policies may do good for the economy.
What is the current support level?
Nasdaq, S&P 500, DJIA and Russell 2000 all made a new high.
- NASDAQ - above its 50 days moving average line near 12100; current at 13067
- S&P 500 - above its 50 days moving average line near 3600; current at 3803
- DJIA - above its 50 days moving average line near 29400; current at 31041
- RUSSELL 2000 - above its 50 days moving average line near 1825; current at 2096
Psychological levels
- Nasdaq is now above 13000.
- S&P 500 is now above 3800.
- Dow Jones Industrial Average is now above 31000.
- 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) | 4 | CERN, CHNG, SLP, TRHC |
| Technology | Technology | Electronic Components | 3 | MU, SGH, TDC |
| Technology | Technology | Computer Communications Equipment | 7 | ANET, CAMP, DGII, EXTR, JNPR, SILC, SWIR |
| Retail | Consumer Services | Clothing/Shoe/Accessory Stores | 5 | CRI, HBI, PVH, TPR, UFI |
| Retail | Consumer Non-Durables | Shoe Manufacturing | 4 | CROX, DECK, RCKY, SKX |
| Retail | Capital Goods | Auto Manufacturing | 2 | F, GM |
| Retail | Capital Goods | Auto Parts:O.E.M. (Equipment) | 7 | APTV, DAN, GNTX, MGA, STRT, THRM, WKHS |
| 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 | 6 | AWI, CSTE, FRTA, GCP, OC, WMS |
| Industrial | Capital Goods | Engineering & Construction | 11 | ACM, AGX, FLR, GVA, HIL, MTZ, PRIM, PWR, ROAD, STRL, TPC |
| Health | Health Care | Major Pharmaceuticals | 13 | AMGN, ANAB, ANIK, CHRS, ENTA, EXEL, GILD, ICPT, INCY, LGND, RGNX, STRO, UTHR |
| Health | Health Care | Major Pharmaceuticals (Diversified) | 3 | ABT, DHR, JNJ |
| Health | Health Care | Major Pharmaceuticals (Ethical Drugs) | 2 | ENDP, MRK |
| Health | Health Care | Major Pharmaceuticals (Generic Drugs) | 4 | EGRX, PRGO, TARO, TEVA |
| Commodities | Consumer Services | Farming/Seeds/Milling | 2 | BG, DAR |
| Commodities | Basic Industries | Agricultural Chemicals | 3 | AVD, CF, MOS |
| Commodities | Energy | Industrial Machinery/Components | 17 | ACA, AMRC, AQN, AY, BEP, BEPC, BLDP, CLNE, CWEN, GPRE, IEA, NEP, ORA, PLUG, REGI, REX, TPIC |
| Financial | Finance | Major Banks (Midwest) | 7 | ASB, BY, CBSH, HBNC, TCF, UMBF, WTFC |
| Financial | Finance | Major Banks | 13 | BAC, BCS, BK, C, GS, HSBC, JPM, MS, RY, SMFG, TD, UBS, WFC |
| Financial | Finance | Major Banks (Northeast) | 11 | CFG, CNOB, CUBI, EBSB, EGBN, HONE, MCB, MTB, SASR, TBBK, WBS |
| Financial | Finance | Major Banks (Southeast) | 11 | ABCB, BPOP, BXS, FBK, FBP, FHN, HOMB, SFNC, SMMF, SNV, UCBI |
| Financial | Finance | Major Banks (Regional) | 7 | HBAN, KEY, NTRS, PNC, RF, SIVB, USB |
| Financial | Finance | Major Banks (West) | 11 | ABTX, COLB, CVBF, FIBK, FRC, GBCI, HMST, IBTX, PB, WAFD, WAL |
| Financial | Capital Goods | Homebuilding | 4 | COF, ENVA, SLM, WRLD |
| Financial | Miscellaneous | Business Services | 5 | ADS, CATM, DFS, GDOT, SQ |
| Financial | Finance | Investment Bankers/Brokers/Service | 9 | BGCP, EVR, FUTU, LAZ, MC, RJF, SCHW, SF, TIGR |
| Financial | Finance | Investment Managers | 8 | AMG, APAM, BLK, DHIL, MN, NOAH, SEIC, TROW |
| Financial | Finance | Major Banks (Savings) | 5 | FFBC, ISBC, NWBI, STL, WSFS |
| Financial | Consumer Services | Other Consumer Services (Specialty) | 7 | ALLY, BR, CME, NAVI, NDAQ, TW, VIRT |
| Financial | Finance | Property-Casualty Insurers (Diversified) | 4 | AIG, HIG, MFC, PFG |
| Financial | Finance | Life Insurance | 6 | ATH, FFG, MET, PRI, PRU, SLF |
| Financial | Finance | Property-Casualty Insurers | 8 | ESGR, GSHD, HMN, HRTG, KMPR, SIGI, THG, TPRE |
| Financial | Finance | Real Estate | 2 | MMI, TPL |
Which industry groups from recent strength show weakness today?
None.
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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