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Daily stock market update March 16, 2021 - Market inched back

March 17, 2021
MCBOSS CAPITAL
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market update

How is stock market today?

Market inched back a little. This may be a good sign as market takes a breather after the recent run.

What is the current support level?

Nasdaq is trying to recover above its 50 days moving average. It is now sitting above this average for 2 days. This may be a good sign.

S&P 500 and DJIA pulled back slightly.

Russell 2000 pulled back more after an impressive streak of seven consecutive days up.

NASDAQ - above its 50 days moving average line near 13300; current at 13471
S&P 500 - above its 50 days moving average line near 3800; current at 3962
DJIA - above its 50 days moving average line near 31000; current at 32825
RUSSELL 2000 - above its 50 days moving average line near 2125; current at 2319

Psychological levels

Nasdaq is above 13000.
S&P 500 is above 3900.
Dow Jones Industrial Average is above 32000.
Small cap Russell 2000 is above 2300.

Which industry groups show strength?

There are few industry groups showing accumulation.

Sector	Industry	Sub-group	#	Stocks
Retail	Consumer Non-Durables	Consumer Electronics/Appliances	2	GPRO, HEAR
Retail	Consumer Services	Television Services	3	DISCA, DISCK, NXST
Retail	Consumer Services	Department/Specialty Retail Stores	2	JWN, M
Retail	Health Care	Medical/Nursing Services	2	RAD, WBA

Industrial	Public Utilities	Power Generation	5	AVA, CMS, DTE, DUK, XEL

Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Industrial	Basic Industries	Paper	5	CLW, GPK, IP, PKG, WRK

Relative strength drops by 1%
Commodities	Energy	Metal Fabrications	3	DRQ, MRC, WHD

Relative strength drops by 1%
Financial	Finance	Investment Bankers/Brokers/Service	-2	AMP, FUTU

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.