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Daily stock market update March 17, 2021 - Market closed higher

March 18, 2021
MCBOSS CAPITAL
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market update

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.