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Daily stock market update March 5, 2021 - Market made a big comeback
How is stock market today?
Market made a big comeback from a quick early drop on Friday. It is hard to tell if one day makes a new trend. It may be the bottom or it may just be another trap. In a correction, a bottom generally forms when things look the worse. Is there enough fear to shake out more weak investors? A rally will eventually take form and the patient investors will strive.
Overall, the market show mixed pictures with the growth stocks mainly on Nasdaq taking the brunt of the correction.
Index | Mar. 1-5 |
Nasdaq | -2.06% |
S&P 500 | 0.81% |
Dow Jones | 1.82% |
Russell 2000 | -0.40% |
What is the current support level?
Nasdaq dropped further below its 50 days moving average before rebounding.
S&P 500 rebound above its 50 days moving average, but is still below its 10 and 21 days moving average.
Dow jones and Russell 2000 rebound above to its 50 days moving average.
Once again, it is important to hold at these levels.
- NASDAQ - above its 50 days moving average line near 13300; current at 12920
- S&P 500 - above its 50 days moving average line near 3800; current at 3841
- DJIA - above its 50 days moving average line near 31000; current at 31496
- RUSSELL 2000 - above its 50 days moving average line near 2125; current at 2192
Psychological levels
- Nasdaq is below 13000.
- S&P 500 is now above 3800.
- Dow Jones Industrial Average is now above 31000.
- Small cap Russell 2000 is below 2200.
Which industry groups show strength?
There are many industry groups showing accumulation. Once again, you are seeing strength coming from cyclical stocks.
Sector | Industry | Sub-group | # | Stocks |
Retail | Consumer Durables | Automotive Aftermarket | 2 | CTB, GT |
Retail | Consumer Durables | Office Equipment/Supplies/Services | 2 | LEG, TPX |
Retail | Consumer Services | Marine Transportation | 4 | CAR, LYFT, SIX, VAC |
Retail | Consumer Services | Television Services | 4 | FOX, FOXA, MDP, WWE |
Retail | Consumer Services | Television Services | 3 | DISCK, NXST, SSP |
Retail | Consumer Services | Food Chains | 4 | CBD, IMKTA, KR, SFM |
Retail | Consumer Non-Durables | Food Distributors | 2 | CORE, USFD |
Industrial | Capital Goods | Engineering & Construction | 3 | AGX, MTZ, PRIM |
Industrial | Finance | Diversified Commercial Services | 2 | EME, MYRG |
Industrial | Basic Industries | Major Chemicals: Plastics | 4 | AVNT, DOW, EMN, TSE |
Industrial | Miscellaneous | Business Services (Outsourcing) | 5 | ADP, ARMK, CNDT, EXLS, NSP |
Industrial | Technology | Industrial Machinery/Components | 7 | BRK.B, CSL, EMR, ETN, GE, JCI, MDU |
Industrial | Basic Industries | Aluminum | 4 | CENX, CMC, MTRN, WOR |
Industrial | Basic Industries | Paper | 5 | AIN, IP, NP, SWM, WRK |
Industrial | Transportation | Railroads | 2 | CNI, CP |
Industrial | Transportation | Trucking Freight/Courier Services | 4 | ARCB, LSTR, ODFL, WERN |
Industrial | Capital Goods | Auto Manufacturing | 2 | CMI, CVGI |
Health | Health Care | Medical Specialities | 4 | ANTM, CI, GTS, UNH |
Commodities | Energy | Oil & Gas Production (Canada) | 2 | CNQ, ERF |
Commodities | Energy | Oil & Gas Production: Drilling | 3 | HP, PTEN, RIG |
Commodities | Energy | Oilfield Services/Equipment | 6 | HAL, HLX, NR, OII, OIS, RES |
Commodities | Energy | Integrated oil Companies | 8 | CVX, EC, EQT, MRO, PTR, RDS.A, TOT, XOM |
Commodities | Energy | Metal Fabrications | 5 | DRQ, FET, GTLS, NOV, WHD |
Commodities | Energy | Integrated oil Companies | 7 | CEQP, CLMT, CZZ, MPC, NS, UGI, VLO |
Commodities | Energy | Natural Gas Distribution | 8 | EPD, KMI, MMP, OKE, PAA, PAGP, PSXP, WES |
Commodities | Energy | Oil & Gas Production (U.S.) | 12 | BCEI, CPE, DVN, EOG, FANG, MTDR, PDCE, PVAC, QEP, SM, WTI, XEC |
Commodities | Basic Industries | Steel/Iron Ore | 4 | MT, PKX, STLD, TS |
Financial | Finance | Major Banks (Midwest) | 4 | ASB, HBNC, MBIN, UMBF |
Financial | Finance | Major Banks | 7 | BAC, BCS, BK, C, GS, JPM, MS |
Financial | Finance | Major Banks (Northeast) | 9 | BMTC, CNBKA, CNOB, CUBI, EBSB, HONE, SASR, TBBK, WBS |
Financial | Finance | Major Banks (Southeast) | 8 | ABCB, BXS, FBK, FBP, FCNCA, FHN, HOMB, SMMF |
Financial | Finance | Major Banks (West) | 7 | ABTX, EWBC, FIBK, GBCI, HMST, PB, WAFD |
Financial | Capital Goods | Homebuilding | 3 | BZH, HOV, LGIH |
Financial | Finance | Finance: Consumer Services | 5 | COOP, ENVA, OMF, RM, SLM |
Financial | Finance | Major Banks (Savings) | 4 | FFBC, KRNY, NWBI, STL |
Financial | Finance | Life Insurance | 3 | AEL, ATH, PUK |
Which industry groups from recent strength show weakness today?
There are no industry groups showing weakness.
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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