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Daily stock market update May 4, 2021 - Market mixed again

May 05, 2021
MCBOSS CAPITAL
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market update

How is stock market today?

Market show mixed signals once again. Nasdaq fell hard today but Dow Jones barely budge.

What is the current support level?

Nasdaq fell below its 21 days moving average to its 50 days moving average before finally rebounding. The gap down today below key moving average is concerning. Watch and see if 50 days moving average can act as support.

S&P 500 fell to its 21 days moving average before rebounding.

Dow Jones rebound from its 21 days moving average and is near a new high.

Russell 2000 fell to its 50 days moving average. It is important to find support at this critical juncture.

NASDAQ - above its 50 days moving average line near 13500; current at 13633
S&P 500 - above its 50 days moving average line near 3880; current at 4164
DJIA - above its 50 days moving average line near 31600; current at 34133
RUSSELL 2000 - above its 50 days moving average line near 2220; current at 2248

Psychological levels

Nasdaq is now below 14000.
S&P 500 is below 4200.
Dow Jones Industrial Average is above 34000.
Small cap Russell 2000 is below 2300.

Which industry groups show strength?

There are some industry groups showing accumulation.

Sector	Industry	Sub-group	#	Stocks
Retail	Consumer Durables	Automotive Aftermarket	5	AN, CRMT, CWH, PAG, SAH
Retail	Health Care	Medical/Nursing Services	2	CVS, WBA
Retail	Consumer Services	Other Specialty Stores (Leisure)	3	BGFV, HZO, PLBY

Industrial	Basic Industries	Mining & Quarrying of Nonmetallic Minerals (No Fuels)	2	MLM, VMC
Industrial	Consumer Durables	Building Products	9	ATKR, AWI, BLD, FBHS, GFF, MHK, OC, PGTI, TILE
Industrial	Basic Industries	Forest Products	4	BCC, LPX, UFPI, WFG
Industrial	Basic Industries	Major Chemicals	3	CE, HUN, LYB
Industrial	Miscellaneous	Business Services (Market Research)	2	IT, TRI
Industrial	Technology	Professional Services	2	JOBS, KFRC
Industrial	Consumer Durables	Containers/Packaging	2	BERY, SEE
			2	RYI, ZEUS
Industrial	Basic Industries	Aluminum	4	ARNC, CENX, CMC, MTRN
Industrial	Transportation	Air Freight/Delivery Services	3	AAWW, FDX, UPS

Health	Health Care	Hospital/Nursing Management	2	CYH, HCA
Health	Health Care	Other Pharmaceuticals	2	ABC, CAH

Commodities	Capital Goods	Construction/Ag Equipment/Trucks	2	MTW, TEX
Commodities	Basic Industries	Precious Metals	2	AEM, MUX
Commodities	Energy	Oilfield Services/Equipment	4	NR, OII, PUMP, SLB
Commodities	Energy	Integrated oil Companies	6	CVI, GLP, MPC, PBF, TRGP, VLO
Commodities	Basic Industries	Steel/Iron Ore	2	NUE, STLD

Financial	Finance	Major Banks (Northeast)	4	CNOB, CUBI, SASR, TBBK

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.