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Daily stock market update March 26, 2021 - Market made a new closing high

How is stock market today?

Market made a new closing high as it tries to rebound.

Overall this week, the growth stocks from Nasdaq and small caps from Russell 2000 did poorly. The trend where cyclical and value stocks continue to rally seems to remain in place.

Index Mar. 22-26
Nasdaq -0.58%
S&P 500 1.57%
Dow Jones 1.36%
Russell 2000 -2.89%

What is the current support level?

Nasdaq rebound to near its 10 days moving average.

S&P 500 made a new closing high after it rebounded from its 50 days moving average. This is a bullish sign.

Dow Jones rebound from its 21 days moving average.

Russell 2000 rebound to near 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 13138
  • S&P 500 - above its 50 days moving average line near 3860; current at 3974
  • DJIA - above its 50 days moving average line near 31400; current at 33072
  • RUSSELL 2000 - above its 50 days moving average line near 2200; current at 2183

Psychological levels

  • Nasdaq is now above 13000.
  • S&P 500 is now above 3900.
  • Dow Jones Industrial Average is now above 33000.
  • Small cap Russell 2000 is now below 2200.

Which industry groups show strength?

There is not much industry group showing accumulation. 

Sector Industry Sub-group # Stocks
Technology Technology Semiconductors (Equip) 3 AMAT, ASML, ICHR
Industrial Basic Industries Forest Products 2 LPX, UFPI
Industrial Consumer Durables Containers/Packaging 2 ATR, BERY
Industrial Transportation Railroads 3 KSU, NSC, UNP
Commodities Basic Industries Steel/Iron Ore 4 MT, NUE, PKX, STLD
Financial Finance Finance: Consumer Services 3 IX, SLM, UPST

Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
RetailConsumer ServicesRETAIL: Building Materials4FAST, GWW, HD, LOW
Below 50 days moving average
RetailConsumer ServicesOther Specialty Stores-2GRWG, ULTA
Relative strength drops by 1%
IndustrialPublic UtilitiesPower Generation5CMS, DUK, PCG, WEC, XEL


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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