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Daily stock market update March 19, 2021 - Market recover a little

How is stock market today?

Market recover a little. This is not the sign you want to see after the previous day's big losses.

Overall this week, the market gave back some of previous week's gains; although, not too bad.

Index Mar. 15-19
Nasdaq -0.79%
S&P 500 -0.77%
Dow Jones -0.46%
Russell 2000 -2.77%

What is the current support level?

Nasdaq has failed again to recover above its 50 days moving average. It now lives under the 10 days moving average. This may indicate more weakness to come.

S&P 500 found support near its 10 and 21 days moving average.

DJIA fell from its recent high at 33000 mark and sits just above its 10 days moving average.

Russell 2000 found support near  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 3913
  • 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 2287

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 Services RETAIL: Building Materials 4 FAST, GWW, HD, LOW
Retail Consumer Non-Durables Farming/Seeds/Milling 2 MO, PM
Retail Transportation Air Freight/Delivery Services 4 ALGT, ALK, JBLU, UAL
Industrial Consumer Durables Consumer Electronics/Appliances 2 AOS, WSO
Industrial Technology Electrical Products 2 JBL, SANM
Industrial Basic Industries Electric Utilities: Central 6 AEP, EIX, ETR, IDA, PNM, PNW
Health Health Care Other Pharmaceuticals 2 CAH, MCK
Commodities Basic Industries Agricultural Chemicals 2 SMG, UAN


Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Technology Technology EDP Services (Tech Services) -2 EGOV, RAMP
Relative strength drops by 1%
Retail Capital Goods Auto Parts:O.E.M. (Equipment) -3 GNTX, LDL, TEN
Relative strength drops by 1%
Retail Consumer Services Hotels/Resorts (Lodging) 4 CHH, H, HTHT, STAY
Relative strength drops by 1%
Retail Miscellaneous Business Services 3 MMYT, TCOM, TRVG
Relative strength drops by 1%
Retail Consumer Services Television Services 3 DISCA, DISCK, NXST
Relative strength drops by 1%
Retail Consumer Services Automotive Aftermarket (Parts) 2 LKQ, MNRO
Relative strength drops by 1%
Industrial Capital Goods Engineering & Construction -2 PRIM, ROAD
Relative strength drops by 1%
Health Health Care Medical Specialities 2 CI, GTS
Relative strength drops by 1%
Commodities Energy Integrated oil Companies 2 CVX, PBR
Relative strength drops by 1%
Commodities Basic Industries Steel/Iron Ore 2 MT, STLD
Relative strength drops by 1%
Financial Finance Commercial Banks 3 BLX, BMA, GGAL
Relative strength drops by 3%
Financial Finance Major Banks 5 BAC, C, RY, SMFG, TD
Relative strength drops by 4%
Financial Finance Real Estate 4 FOR, GRBK, KW, RLGY

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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