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Daily stock market update March 25, 2021 - Market rebound some

March 26, 2021
MCBOSS CAPITAL
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market update

How is stock market today?

Market rebound some today and it is a positive reversal day. It is still too early to tell if market has reached a short term bottom after one day of rebound.

What is the current support level?

Nasdaq fell further below its 50 days moving average before rebounding.

S&P 500 rebound from its 50 days moving average.

Dow Jones rebound from its 21 days moving average.

Russell 2000 fell further below its 50 days moving average before rebounding.

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 12977
S&P 500 - above its 50 days moving average line near 3860; current at 3909
DJIA - above its 50 days moving average line near 31400; current at 32619
RUSSELL 2000 - above its 50 days moving average line near 2200; current at 2183

Psychological levels

Nasdaq is now below13000.
S&P 500 is now above 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
Industrial	Public Utilities	Power Generation	5	CMS, DUK, PCG, WEC, XEL

Which industry groups from recent strength show weakness today?

None

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.