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Daily stock market update March 17, 2021 - Market closed higher
How is stock market today?
Market appears to be retreating again this morning before the Federal Reserve minutes got released. The Fed. reiterated that the economy outlook is strong and revised its GDP upwards. Market soon bounced to close higher.
What is the current support level?
Nasdaq is trying to recover above its 50 days moving average. It was testing this level again today. It is now sitting above this average for 3 consecutive days. This may be a good sign.
S&P 500 made a new closing high and is inching close towards the 4000 mark.
DJIA also made a new closing high as it surpassed 33000 mark.
Russell 2000 found support at its short term 10 days moving average.
- NASDAQ - above its 50 days moving average line near 13300; current at 13525
- S&P 500 - above its 50 days moving average line near 3800; current at 3974
- DJIA - above its 50 days moving average line near 31000; current at 33015
- RUSSELL 2000 - above its 50 days moving average line near 2125; current at 2336
Psychological levels
- Nasdaq is above 13000.
- S&P 500 is above 3900.
- Dow Jones Industrial Average is above 33000.
- Small cap Russell 2000 is above 2300.
Which industry groups show strength?
There are some industry groups showing accumulation.
Sector | Industry | Sub-group | # | Stocks |
Technology | Technology | Electronic Components | 2 | MU, SGH |
Technology | Technology | EDP Services (Integrated System) | 2 | NCR, PAR |
Retail | Consumer Services | Hotels/Resorts (Lodging) | 4 | CHH, H, HTHT, STAY |
Retail | Miscellaneous | Business Services | 3 | MMYT, TCOM, TRVG |
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 |
Retail | Consumer Services | Restaurants | 8 | ARCO, DIN, JACK, MCD, RRGB, SBUX, WING, YUM |
Retail | Transportation | Air Freight/Delivery Services | 6 | AAL, ALGT, ALK, DAL, JBLU, UAL |
Commodities | Capital Goods | Construction/Ag Equipment/Trucks | 2 | CAT, MTW |
Financial | Capital Goods | Homebuilding | 4 | DHI, LEN, LGIH, PHM |
Financial | Finance | Real Estate | 4 | FOR, GRBK, KW, RLGY |
Which industry groups from recent strength show weakness today?
Relative strength drops by 1% | ||||
Technology | Public Utilities | Telecommunications Equipment (Foreign) | 2 | RCI, VOD |
Relative strength drops by 1% | ||||
Retail | Consumer Services | RETAIL: Building Materials | 2 | FAST, FND |
Relative strength drops by 1% | ||||
Retail | Consumer Services | Other Specialty Stores (Leisure) | 3 | ASO, DKS, HZO |
Relative strength drops by 1% | ||||
Industrial | Technology | Diversified Commercial Services | 6 | AER, AL, HRI, R, TRTN, UHAL |
Relative strength drops by 1% | ||||
Industrial | Basic Industries | Aluminum | 6 | ARNC, CENX, IIIN, KALU, NNBR, RS |
Relative strength drops by 1% | ||||
Industrial | Transportation | Railroads | 2 | CNI, CP |
Relative strength drops by 3% | ||||
Industrial | Public Utilities | Power Generation | 5 | AVA, CMS, DTE, DUK, XEL |
Relative strength drops by 1% | ||||
Industrial | Basic Industries | Electric Utilities: Central | 3 | ETR, IDA, POR |
Relative strength drops by 1% | ||||
Financial | Finance | Finance: Consumer Services | 2 | CGBD, WD |
Relative strength drops by 1% | ||||
Financial | Consumer Services | Real Estate Investment Trusts | 16 | ACC, ADC, AVB, CLDT, CTRE, EPRT, EQIX, INVH, NSA, PEB, PLD, PSB, REXR, STAG, TRNO, UDR |
Relative strength drops by 1% | ||||
Financial | Finance | Property-Casualty Insurers | ||
11 | EIG, ESGR, FAF, FNF, HMN, MBI, SIGI, THG, TRV, UIHC, WRB |
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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