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Daily stock market update April 16, 2021 - Market rally continues

April 17, 2021
MCBOSS CAPITAL
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market update

How is stock market today?

Market rally continues as major indices hit new high. It has only been the first week of earnings season, but so far reported earnings are mostly better than expected. Many companies will be reporting in coming weeks which may move the market direction.

Overall, this is a good week for the general market.

Index	Apr. 12-16
Nasdaq	1.09%
S&P 500	1.37%
Dow Jones	1.18%
Russell 2000	0.86%

What is the current support level?

Nasdaq rise above the 14,000 mark. This is a good sign.

S&P 500 rise to a new high.

Dow Jones also hit new high.

Russell 2000 has climbed slightly above 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 14052
S&P 500 - above its 50 days moving average line near 3880; current at 4185
DJIA - above its 50 days moving average line near 31600; current at 34200
RUSSELL 2000 - above its 50 days moving average line near 2220; current at 2262

Psychological levels

Nasdaq is now above 14000.
S&P 500 is above 4100.
Dow Jones Industrial Average is now above 34000.
Small cap Russell 2000 is above 2200.

Which industry groups show strength?

There are some industry groups showing accumulation.

Sector	Industry	Sub-group	#	Stocks
Technology	Technology	Computer Software: Prepackaged Software (Security)	4	CYBR, INVE, OKTA, VRNT
Technology	Technology	Semiconductors	2	LSCC, NVDA

Retail	Consumer Services	RETAIL: Building Materials	2	FND, TSCO
Industrial	Basic Industries	Forest Products	2	LPX, UFPI
Industrial	Basic Industries	Paints/Coatings	2	PPG, SHW
Industrial	Public Utilities	Power Generation	3	CMS, DUK, XEL

Health	Health Care	Major Pharmaceuticals (Diversified)	3	AZN, DHR, GSK
Health	Health Care	Medical Specialities	2	PGNY, UNH

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.