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Daily stock market update July 8, 2021 - Market pull back

How is stock market today?

Market pull back as all the indices are trying to find support near its moving averages.


What is the current support level?

Nasdaq and S&P 500 and Dow Jones pull back to its 10 days moving average.

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

  • NASDAQ - above its 50 days moving average line near 13640; current at 14559
  • S&P 500 - above its 50 days moving average line near 41400; current at 4320
  • DJIA - above its 50 days moving average line near 34200; current at 34421
  • RUSSELL 2000 - below its 50 days moving average line near 2240; current at 2231

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 not many groups showing accumulation. 

Sector Industry Sub-group # Stocks
Technology Technology Computer Software: Prepackaged Software (Security) 6 CHKP, CRWD, FTNT, PANW, RPD, ZS

Which industry groups from recent strength show weakness today?

Relative strength drops by 7%
Technology Technology Computer Software: Prepackaged Software (Enterprise) 3 DOMO, SAP, SUMO
Below 50 days moving average
Technology Technology EDP Services (Gaming) -2 NTES, SCPL
Relative strength drops by 1%
Industrial Consumer Services Diversified Commercial Services -2 ITRN, REZI
Below 50 days moving average
Industrial Consumer Services Marine Transportation -2 MATX, ZIM
Relative strength drops by 2%
Health Health Care Biotechnology: Electromedical & Electrotherapeutic Apparatus 7 DXCM, HAE, HOLX, IDXX, MASI, NVRO, OMCL
Relative strength drops by 1%
Commodities Energy Oil & Gas Production (International) -3 COP, HES, OXY


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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