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

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.

  

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