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Daily stock market update April 1, 2021 - Market hit another milestone

April 03, 2021
MCBOSS CAPITAL
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market update

How is stock market today?

Market hit another milestone as S&P surpass 4000 mark for the first time and other indices rising above key moving averages.

Index	Mar. 29 - Apr. 2
Nasdaq	2.60%
S&P 500	1.14%
Dow Jones	0.24%
Russell 2000	1.46%

What is the current support level?

Nasdaq rise back above its 50 days moving average. This is a very positive move. The index may keep rising further above this level or may fall back below it. The key is to at least find support in the short term.

S&P 500 hit a new high closing above 4000.

Dow Jones rise slightly and is near new high.

Russell 2000 rise above its 10, 21 and 50 days moving average as these moving averages are converging. This is a very positive move.

NASDAQ - above its 50 days moving average line near 13425; current at 13480
S&P 500 - above its 50 days moving average line near 3880; current at 4019
DJIA - above its 50 days moving average line near 31600; current at 33153
RUSSELL 2000 - above its 50 days moving average line near 2220; current at 2253

Psychological levels

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

Which industry groups show strength?

There are not many industry groups showing accumulation.

Sector	Industry	Sub-group	#	Stocks
Technology	Technology	Semiconductors (Equip)	9	ACLS, AMAT, ASML, ENTG, FORM, ICHR, KLAC, LRCX, UCTT

Industrial	Capital Goods	Engineering & Construction	8	AGX, GVA, HIL, MTZ, PRIM, PWR, STRL, TPC
Industrial	Basic Industries	Forest Products	2	LPX, UFPI

Commodities	Basic Industries	Steel/Iron Ore	3	GGB, MT, STLD

Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Industrial	Technology	Electrical Products	2	JBL, SANM

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.