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Daily stock market update May 5, 2021 - Market mixed again

May 06, 2021
MCBOSS CAPITAL
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market update

How is stock market today?

Market show mixed signals once again. Nasdaq fell slightly today but Dow Jones moves up.

What is the current support level?

Nasdaq fell to its 50 days moving average. It made a new recent closing low. Watch and see if 50 days moving average can act as support.

S&P 500 is trying to hold onto its 10 days moving average.

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 13582
S&P 500 - above its 50 days moving average line near 3880; current at 4167
DJIA - above its 50 days moving average line near 31600; current at 34331
RUSSELL 2000 - above its 50 days moving average line near 2220; current at 2241

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 Services	RETAIL: Building Materials	2	GMS, SITE
Retail	Consumer Services	Other Specialty Stores (Leisure)	2	ASO, BGFV

Industrial	Basic Industries	Mining & Quarrying of Nonmetallic Minerals (No Fuels)	3	MLM, SUM, VMC
Industrial	Basic Industries	Major Chemicals	3	CE, HUN, LYB
Industrial	Technology	Professional Services	3	CCRN, JOBS, KFRC
			2	RYI, ZEUS
Industrial	Basic Industries	Aluminum	3	ARNC, CENX, TKR
Industrial	Transportation	Air Freight/Delivery Services	3	AAWW, FDX, UPS

Commodities	Basic Industries	Agricultural Chemicals	2	AVD, SMG
Commodities	Capital Goods	Construction/Ag Equipment/Trucks	3	CAT, CNHI, TEX
Commodities	Energy	Oil & Gas Production: Drilling	2	HP, PTEN
Commodities	Energy	Oilfield Services/Equipment	3	OII, RES, SLB
Commodities	Energy	Metal Fabrications	2	DRQ, MRC
Commodities	Basic Industries	Steel/Iron Ore	3	GGB, NUE, STLD

Financial	Finance	Major Banks (Northeast)	2	CNOB, TBBK

Which industry groups from recent strength show weakness today?

Relative strength drops by 3%
Retail	Consumer Durables	Automotive Aftermarket	5	AN, CRMT, CWH, PAG, SAH

Relative strength drops by 1%
Retail	Consumer Services	Clothing/Shoe/Accessory Stores	3	ANF, BKE, LB

Relative strength drops by 2%
Retail	Consumer Non-Durables	Food Distributors	-3	PFGC, UNFI, USFD

Relative strength drops by 2%
Industrial	Consumer Durables	Building Products	9	ATKR, AWI, BLD, FBHS, GFF, MHK, OC, PGTI, TILE

Relative strength drops by 1%
Financial	Finance	Finance: Consumer Services	3	IX, SLM, UPST

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.