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Daily stock market update March 18, 2021 - Market fell hard

March 19, 2021
MCBOSS CAPITAL
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market update

How is stock market today?

Market fell hard today as long term bond yields continue to rise as market is expecting stronger economic recovery and higher inflation. Growth stocks bears the most weakness.

What is the current support level?

Nasdaq is trying to recover above its 50 days moving average, but it failed hard below it today. After losing support, this index may have more weakness to come.

S&P 500 fell to its 10 and 21 days moving average.

DJIA fell from its recent high at 33000 mark.

Russell 2000 also fell hard to its 10 and 21 days moving average.

NASDAQ - above its 50 days moving average line near 13300; current at 13116
S&P 500 - above its 50 days moving average line near 3800; current at 3915
DJIA - above its 50 days moving average line near 31000; current at 32862
RUSSELL 2000 - above its 50 days moving average line near 2125; current at 2267

Psychological levels

Nasdaq is above 13000.
S&P 500 is above 3900.
Dow Jones Industrial Average is below 33000.
Small cap Russell 2000 is below 2300.

Which industry groups show strength?

There are not many industry groups showing accumulation.

Sector	Industry	Sub-group	#	Stocks
Retail	Consumer Non-Durables	Farming/Seeds/Milling	2	MO, PM

Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Retail	Consumer Services	Clothing/Shoe/Accessory Stores	6	ANF, BURL, CHS, EXPR, GPS, TLYS

Relative strength drops by 2%
Retail	Consumer Services	Restaurants	8	ARCO, DIN, JACK, MCD, RRGB, SBUX, WING, YUM

Relative strength drops by 1%
Commodities	Capital Goods	Construction/Ag Equipment/Trucks	2	CAT, MTW

Relative strength drops by 3%
Commodities	Energy	Natural Gas Distribution	2	MPLX, STNG

Relative strength drops by 4%
Financial	Capital Goods	Homebuilding	4	DHI, LEN, LGIH, PHM

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.