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Daily stock market update April 8, 2021 - Market continue its uptrend

How is stock market today?

Market continue its uptrend as indices continue to make new highs.

What is the current support level?

Nasdaq rise to new recent high. 

S&P 500 made a new closing high.

Dow Jones is also holding near its recent high.

Russell 2000 has fallen back to near its 10, 21 and 50 days moving average. Watch for support at this level as it is critical.

  • NASDAQ - above its 50 days moving average line near 13425; current at 13829
  • S&P 500 - above its 50 days moving average line near 3880; current at 4097
  • DJIA - above its 50 days moving average line near 31600; current at 33503
  • RUSSELL 2000 - above its 50 days moving average line near 2220; current at 2242

Psychological levels

  • Nasdaq is above 13000.
  • S&P 500 is above 4000.
  • Dow Jones Industrial Average is above 33000.
  • Small cap Russell 2000 is above 2200.

Which industry groups show strength?

There are few industry groups showing accumulation. 

Sector Industry Sub-group # Stocks
Technology Technology Computer Software: Prepackaged Software (Security) 2 OKTA, VRNT
Technology Technology EDP Services (Tech Services) 2 CTG, HCKT
Technology Technology Semiconductors (Equip) 6 CCMP, COHR, ENTG, ICHR, KLIC, LRCX
Retail Consumer Non-Durables Beverages Non-Alcoholic (Production/Distribution) 2 CCEP, KOF
Retail Consumer Services Clothing/Shoe/Accessory Stores 3 ANF, BKE, LB
Industrial Consumer Services Marine Transportation 2 MATX, ZIM

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.

  

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