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Daily stock market update July 6, 2021 - Market holding up well

July 07, 2021
MCBOSS CAPITAL
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market update

How is stock market today?

Market is holding up well as Nasdaq continue to lead the market to all time highs.

What is the current support level?

Nasdaq close at all time high. This is a bullish sign.

S&P 500 fell a little today.

Dow Jones fell to near its moving averages before rebounding.

Russell 2000 fell to its 50 days moving average. It is not good sign.

NASDAQ - above its 50 days moving average line near 13640; current at 14663
S&P 500 - above its 50 days moving average line near 41400; current at 4343
DJIA - above its 50 days moving average line near 34200; current at 34577
RUSSELL 2000 - above its 50 days moving average line near 2240; current at 2274

Psychological levels

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

Which industry groups show strength?

There are few industry groups showing accumulation.

Sector	Industry	Sub-group	#	Stocks
Technology	Technology	Computer Software: Prepackaged Software (Enterprise)	7	COUP, DOCU, DT, FIVN, PAYC, SHOP, ZM
Technology	Technology	Computer Software: Prepackaged Software (Security)	6	CRWD, FEYE, FTNT, PANW, RPD, ZS

Retail	Miscellaneous	Business Services (Internet)	2	AMZN, CHWY

Which industry groups from recent strength show weakness today?

Relative strength drops by 10%
Industrial	Basic Industries	Major Chemicals: Others	-8	APD, ASH, ATC, CC, ESI, MEOH, OEC, TROX

Relative strength drops by 4%
Financial	Finance	Investment Bankers/Brokers/Service	-4	LPLA, OPY, SCHW, TIGR

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.