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Daily stock market update July 15, 2021 - Market pull back again

How is stock market today?

Market pull back again for the third day. Some are testing key moving averages.

What is the current support level?

Nasdaq pull back to its 21 days moving average before rebounding a little.

S&P 500 fell to its 10 days moving average.

Dow Jones fell to its 10 days moving average and rebound.

Russell 2000 made a new recent low after it found resistance at its 50 days moving average. This index is deteriorating.

  • NASDAQ - above its 50 days moving average line near 14000; current at 14543
  • S&P 500 - above its 50 days moving average line near 42000; current at 4360
  • DJIA - above its 50 days moving average line near 34200; current at 34987
  • RUSSELL 2000 - below its 50 days moving average line near 2240; current at 2202

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 no groups showing accumulation.  This is not a good sign.


Which industry groups from recent strength show weakness today?

Below 50 days moving average
Retail Consumer Durables Specialty Chemicals -2 ACB, CGC
Relative strength drops by 1%
Health Health Care Medical Specialities (Services) -2 IRTC, NEO
Relative strength drops by 2%
Commodities Energy Oil & Gas Production (Royalty Trust) -2 PBT, SBR
Below 50 days moving average
Commodities Energy Oil & Gas Production (U.S.) -3 AXAS, DVN, EOG
Relative strength drops by 1%
Financial Miscellaneous Business Services 4 AXP, DFS, DLO, V


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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