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Daily stock market update February 25, 2021 - Market failed below key moving average
How is stock market today?
Market fail below key moving average as major indices hit new recent low.
Market seems nervous lately as the 10 year treasury yield climbs above 1.5%. This could mean the market is expecting stronger economy recovery and perhaps even inflation. This may cause Federal Reserve to pull back stimulus sooner than anticipated.
What is the current support level?
Nasdaq dropped below its 50 days moving average.
S&P 500 fell below its 10 and 21 days moving average and is just sitting above its 50 days moving average.
Dow Jones fell to its 21 days moving average.
Russell 2000 fell below its 21 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 13119
- S&P 500 - above its 50 days moving average line near 3780; current at 3829
- DJIA - above its 50 days moving average line near 30600; current at 31402
- RUSSELL 2000 - above its 50 days moving average line near 2075; current at 2200
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 not much industry groups showing accumulation.
| Sector | Industry | Sub-group | # | Stocks |
| Retail | Consumer Services | Department/Specialty Retail Stores | 2 | DDS, KSS |
| Industrial | Technology | Industrial Machinery/Components | 3 | EMR, ETN, GE |
| Commodities | Capital Goods | Industrial Machinery/Components | 2 | AGCO, DE |
Which industry groups from recent strength show weakness today?
| Relative strength drops by 1% | ||||
| Technology | Technology | Computer Software: Prepackaged Software (Education/Media) | -2 | SPOT, TWOU |
| Below 50 days moving average | ||||
| Technology | Consumer Services | Television Services | -3 | CABO, CCOI, LBTYA |
| Relative strength drops by 10% | ||||
| Industrial | Capital Goods | Military/Government/Technical | 3 | HXL, SPR, TGI |
| Relative strength drops by 1% | ||||
| Industrial | Basic Industries | Mining & Quarrying of Nonmetallic Minerals (No Fuels) | 4 | CRH, EXP, SUM, VMC |
| Relative strength drops by 1% | ||||
| Industrial | Consumer Durables | Building Products | -6 | BLD, FBHS, GCP, OC, TREX, WTS |
| Relative strength drops by 1% | ||||
| Industrial | Industrial | Consumer Non-Durables | -2 | CVCO, WGO |
| Relative strength drops by 1% | ||||
| Industrial | Consumer Services | Other Consumer Services | -2 | CSV, SCI |
| Relative strength drops by 1% | ||||
| Health | Health Care | Medical Specialities (Services) | -3 | DGX, GH, IRTC |
| Relative strength drops by 1% | ||||
| Commodities | Energy | Industrial Machinery/Components | -7 | ACA, AQN, BEP, BEPC, CWEN, ORA, REGI |
| Relative strength drops by 1% | ||||
| Commodities | Basic Industries | Precious Metals | 5 | BBL, BHP, FCX, RIO, SCCO |
| Relative strength drops by 5% | ||||
| Financial | Miscellaneous | Business Services | 2 | AXP, EVOP |
| Relative strength drops by 1% | ||||
| Financial | Finance | Investment Bankers/Brokers/Service | 8 | AMP, COWN, CS, EVR, OPY, RJF, SCHW, SF |
| Relative strength drops by 3% | ||||
| Financial | Finance | Property-Casualty Insurers (Diversified) | 4 | AIG, HIG, MFC, PFG |
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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