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Daily stock market update May 7, 2021 - Market show bullish signals
How is stock market today?
Market show bullish signals as S&P 500 and Dow Jones lead the market to new highs.
Overall for the week, Nasdaq seems to be performing poorly compared to other indices.
| Index | May. 5-9 |
| Nasdaq | -1.51% |
| S&P 500 | 1.23% |
| Dow Jones | 2.67% |
| Russell 2000 | 0.23% |
What is the current support level?
Nasdaq rebound from its 50 days to its 21 days moving average. This is a good sign. Watch and see if it can hold at this level and move higher.
S&P 500 made new high after bouncing from its 10 and 21 days moving average. This is a bullish sign.
Dow Jones made a new high after rebounding from its 10 and 21 days moving average. This is a bullish signal
Russell 2000 rebound from its 50 days to 21 days moving average. This is a good sign of support.
- NASDAQ - above its 50 days moving average line near 13500; current at 13752
- S&P 500 - above its 50 days moving average line near 3880; current at 4232
- DJIA - above its 50 days moving average line near 31600; current at 34777
- RUSSELL 2000 - above its 50 days moving average line near 2220; current at 2271
Psychological levels
- Nasdaq is now below 14000.
- S&P 500 is above 4200.
- Dow Jones Industrial Average is above 34000.
- Small cap Russell 2000 is below 2300.
Which industry groups show strength?
There are more industry groups showing accumulation.
| Sector | Industry | Sub-group | # | Stocks |
| Retail | Consumer Services | Other Specialty Stores | 2 | ETH, HOME |
| Retail | Consumer Services | Other Specialty Stores (Leisure) | 2 | ASO, BGFV |
| Industrial | Basic Industries | Mining & Quarrying of Nonmetallic Minerals (No Fuels) | 2 | SUM, VMC |
| Industrial | Consumer Durables | Building Products | 8 | ATKR, BLDR, CSTE, GFF, MHK, PGTI, TILE, WTS |
| Industrial | Basic Industries | Forest Products | 4 | BCC, LPX, UFPI, WFG |
| Industrial | Miscellaneous | Business Services (Market Research) | 2 | IT, TRI |
| Industrial | Technology | Professional Services | 4 | BBSI, CCRN, JOBS, KFRC |
| Industrial | Capital Goods | Fluid Controls | 2 | ITT, SXI |
| Industrial | Capital Goods | Industrial Machinery/Components (Tools) | 2 | KMT, XYL |
| Industrial | Basic Industries | Metal Fabrications | 2 | RYI, ZEUS |
| Industrial | Transportation | Air Freight/Delivery Services | 3 | AAWW, FDX, UPS |
| Industrial | Transportation | Trucking Freight/Courier Services | 3 | ARCB, FWRD, SAIA |
| Health | Health Care | Major Pharmaceuticals (Ethical Drugs) | 4 | ABBV, JAZZ, NVO, PFE |
| Commodities | Basic Industries | Agricultural Chemicals | 3 | CF, MOS, SMG |
| Commodities | Capital Goods | Construction/Ag Equipment/Trucks | 4 | CAT, CNHI, MTW, TEX |
| Commodities | Basic Industries | Precious Metals | 7 | AEM, BVN, GOLD, HL, MUX, PAAS, PVG |
| Commodities | Basic Industries | Precious Metals | 4 | CLF, FCX, RIO, VALE |
| Commodities | Energy | Oil & Gas Production: Drilling | 2 | HP, PTEN |
| Commodities | Energy | Oilfield Services/Equipment | 5 | HAL, NR, OII, RES, SLB |
| Commodities | Energy | Metal Fabrications | 2 | DRQ, MRC |
| 2 | PBT, SJT | |||
| Commodities | Basic Industries | Steel/Iron Ore | 4 | GGB, NUE, STLD, TS |
| Financial | Finance | Major Banks (Northeast) | 4 | CNOB, CUBI, EGBN, TBBK |
Which industry groups from recent strength show weakness today?
| Relative strength drops by 1% | ||||
| Technology | Technology | Computer Software: Prepackaged Software (Desktop) | 2 | ADBE, MSFT |
| Relative strength drops by 1% | ||||
| Retail | Consumer Non-Durables | Shoe Manufacturing | 2 | CROX, SHOO |
| Relative strength drops by 6% | ||||
| Retail | Consumer Non-Durables | Packaged Foods | 3 | ADM, ANDE, INGR |
| Relative strength drops by 2% | ||||
| Retail | Consumer Services | RETAIL: Building Materials | 2 | GMS, SITE |
| Relative strength drops by 5% | ||||
| Industrial | Consumer Durables | Containers/Packaging | 2 | BERY, SEE |
| Relative strength drops by 2% | ||||
| Commodities | Energy | Integrated oil Companies | 6 | CVI, GLP, MPC, PBF, TRGP, VLO |
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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