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Daily stock market update April 22, 2021 - Market slide once again

How is stock market today?

Market slide once again as it has recently been in whipsaw action.

What is the current support level?

Nasdaq is slightly below its 10 days moving average.

S&P 500 and Dow Jones drops to its 10 days moving average. 

Russell 2000 fell slightly below its 50 days moving average.

  • NASDAQ - above its 50 days moving average line near 13500; current at 13818
  • S&P 500 - above its 50 days moving average line near 3880; current at 4134
  • DJIA - above its 50 days moving average line near 31600; current at 33815
  • RUSSELL 2000 - above its 50 days moving average line near 2220; current at 2232

Psychological levels

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

Which industry groups show strength?

There are few industry groups showing accumulation. 

Sector Industry Sub-group # Stocks
Retail Consumer Services Other Specialty Stores (Leisure) 3 HZO, PLBY, POOL
Industrial Basic Industries Paints/Coatings 2 PPG, SHW
Industrial Transportation Railroads 3 CSX, KSU, NSC
Health Health Care Major Pharmaceuticals (Diversified) 2 AZN, JNJ

Which industry groups from recent strength show weakness today?

Below 50 days moving average
Technology Technology Electronic Components 2 MU, SGH
Relative strength drops by 1%
Retail Consumer Non-Durables Recreational Products/Toys, Motor Vehicles 3 BC, JOUT, YETI
Relative strength drops by 1%
Financial Finance Major Banks (Midwest) -2 TCF, WTFC

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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