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Daily stock market update March 24, 2021 - Market turn for the worst

March 25, 2021
MCBOSS CAPITAL
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market update

How is stock market today?

Market turn for the worst as Nasdaq and Russell 2000 head south.

What is the current support level?

Nasdaq fell further below its 50 days moving average and lost support of its short term 10 days moving average.

S&P 500 fell slightly as its 10, 21 and 50 days moving average are converging.

Dow Jones fell slightly and is near its 10 days moving average.

Russell 2000 fell further below its 50 days moving average.

As Nasdaq and Russell fall, watch to see if S&P and Dow Jones can find support.

NASDAQ - above its 50 days moving average line near 13400; current at 12961
S&P 500 - above its 50 days moving average line near 3860; current at 3889
DJIA - above its 50 days moving average line near 31400; current at 32420
RUSSELL 2000 - above its 50 days moving average line near 2200; current at 2134

Psychological levels

Nasdaq is now below13000.
S&P 500 is now below 3900.
Dow Jones Industrial Average is below 33000.
Small cap Russell 2000 is now below 2200.

Which industry groups show strength?

There is not much industry group showing accumulation. This is extremely bearish sign.

Sector	Industry	Sub-group	#	Stocks
Industrial	Transportation	Railroads	2	KSU, NSC

Which industry groups from recent strength show weakness today?

Below 50 days moving average
Technology	Technology	EDP Services (Integrated System)	-2	NCR, PAR

Relative strength drops by 1%
Industrial	Finance	Diversified Commercial Services	-2	EME, MYRG

Relative strength drops by 1%
Industrial	Industrial	Consumer Non-Durables	-3	CVCO, THO, WGO

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.