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Daily stock market update July 12, 2021 - Market making stride

How is stock market today?

Market is making stride to new highs.

What is the current support level?

Nasdaq continue to make new high. This is a bullish sign.

S&P made an impressive new high. This is a bullish sign.

Dow Jones also made a new closing high. This is a bullish sign.

Russell 2000 recover to slightly above its 50 days moving average. 

  • NASDAQ - above its 50 days moving average line near 13640; current at 14733
  • S&P 500 - above its 50 days moving average line near 41400; current at 4384
  • DJIA - above its 50 days moving average line near 34200; current at 34870
  • RUSSELL 2000 - below its 50 days moving average line near 2240; current at 2281

Psychological levels

  • Nasdaq is above 14000.
  • S&P 500 is above 4300.
  • 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
Retail Capital Goods Auto Parts:O.E.M. (Parts) 2 MPAA, XPEL
Financial Finance Finance: Consumer Services 3 COF, COOP, UPST
Financial Consumer Services Real Estate Investment Trusts 7 ESS, IIPR, MGP, NTST, PLD, ROIC, VNO

Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Retail Consumer Services Consumer Electronics/Video Chains -2 CNK, MCS
Relative strength drops by 1%
Health Finance Specialty Insurers 4 CRVL, HCSG, PINC, VCRA

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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