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Daily stock market update February 22, 2021 - Market show mixed signals again

How is stock market today?

Once again market show mixed signals. It seems like growth stocks may be weakening while cyclical and value stocks continue to hold up. More analysts are debating whether this mixed trend will continue.

What is the current support level?

Nasdaq fell through both its 10 and 21 days moving average. During this recent uptrend, this is the second time it has lost support. Last time was on Jan. 29. It quickly found support after. Be mindful that if support fell here, it could continue to deteriorate towards its 200 days moving average.

S&P 500 fell to its 21 days moving average.

Dow Jones and Russell 2000 continue to find support at its 10 days moving average.

It is important for the indices to find support at these levels.

  • NASDAQ - above its 50 days moving average line near 13100; current at 13533
  • S&P 500 - above its 50 days moving average line near 3780; current at 3876
  • DJIA - above its 50 days moving average line near 30600; current at 31521
  • RUSSELL 2000 - above its 50 days moving average line near 2075; current at 2251

Psychological levels

  • Nasdaq is below 14000.
  • S&P 500 is below 3900.
  • Dow Jones Industrial Average is above 31000.
  • Small cap Russell 2000 is above 2200.

Which industry groups show strength?

There are more industry groups showing accumulation. 

Sector Industry Sub-group # Stocks
Retail Capital Goods Auto Parts:O.E.M. (Equipment) 4 DAN, LDL, MGA, TEN
Retail Consumer Durables Automotive Aftermarket 2 CTB, GT
Retail Consumer Services Hotels/Resorts (Gaming) 3 BYD, MCRI, MGM
Retail Consumer Services Hotels/Resorts (Lodging) 3 HLT, IHG, MAR
Retail Miscellaneous Business Services 2 BKNG, TRVG
Retail Consumer Services Television Services 2 DIS, FOXA
Retail Consumer Services Television Services 4 DISCA, DISCK, NXST, TGNA
Retail Transportation Air Freight/Delivery Services 9 AAL, ALGT, CPA, DAL, HA, JBLU, LUV, RYAAY, SKYW
Industrial Capital Goods Engineering & Construction 3 GVA, PRIM, STRL
Industrial Basic Industries Major Chemicals: Plastics 3 DOW, KRA, TSE
Industrial Technology Diversified Commercial Services 8 AER, AL, FLY, HRI, RCII, TGH, TRTN, URI
Industrial Technology Professional Services 6 CCRN, HSII, KFRC, KFY, MAN, TBI
Industrial Basic Industries Aluminum 3 CMC, KALU, WOR
Commodities Energy Coal Mining 3 ARCH, BTU, HCC
Commodities Capital Goods Construction/Ag Equipment/Trucks 3 CAT, MTW, TEX
Commodities Energy Oilfield Services/Equipment 5 FTK, HAL, HLX, OIS, SLB
Commodities Energy Integrated oil Companies 6 CVX, MRO, PTR, RDS.A, SNP, XOM
Commodities Energy Oil & Gas Production (International) 3 APA, COP, HES
Commodities Energy Metal Fabrications 3 GEOS, NOV, WHD
Commodities Energy Integrated oil Companies 7 CVI, DK, HFC, MPC, NS, PSX, VLO
Commodities Energy Oil & Gas Production (U.S.) 9 AXAS, BCEI, CPE, EOG, OAS, PDCE, PVAC, PXD, WLL
Financial Finance Major Banks (Midwest) 5 ASB, HBNC, MBIN, UMBF, WTFC
Financial Finance Major Banks (Northeast) 8 BMTC, CFG, CUBI, EGBN, HONE, MTB, SASR, WBS
Financial Finance Major Banks (Southeast) 4 BPOP, FBK, FCNCA, SFNC
Financial Finance Major Banks (West) 9 CADE, EWBC, FIBK, FRC, GBCI, HMST, HTH, PB, WAL
Financial Finance Major Banks (Savings) 5 ISBC, KRNY, NWBI, PBCT, STL
Financial Finance Life Insurance 2 MET, PRU


Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Retail Consumer Non-Durables Meat/Poultry/Fish -2 BRFS, IBA
Relative strength drops by 1%
Retail Consumer Services Consumer Electronics/Video Chains 2 AVID, GAIA
Relative strength drops by 7%
Retail Consumer Services Marine Transportation 8 CAR, CCL, CUK, LYFT, NCLH, PLNT, RCL, VAC
Relative strength drops by 5%
Industrial Technology Advertising 3 BOMN, OMC, TTD
Relative strength drops by 1%
Industrial Miscellaneous Business Services (Market Research) -4 CSGP, MORN, TRI, VRSK
Relative strength drops by 1%
Industrial Consumer Services Diversified Commercial Services 2 ITRN, NSSC
Relative strength drops by 1%
Commodities Capital Goods Industrial Machinery/Components 2 ALG, LNN
Relative strength drops by 3%
Financial Finance Major Banks 5 BCS, DB, RY, SAN, WFC
Relative strength drops by 3%
Financial Finance Investment Bankers/Brokers/Service 8 AMP, BGCP, COWN, CS, RJF, SCHW, SF, TIGR
Relative strength drops by 2%
Financial Consumer Services Other Consumer Services (Specialty) -2 TRU, VIRT


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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