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Daily stock market update July 19, 2021 - Market downtrend

How is stock market today?

Market start the week continuing their recent downtrend.

The following is tracking the current pullback and correction for the indices.

Nasdaq -4.41%
S&P 500 -3.79%
Dow Jones -4.00%
Russell 2000 -11.54%


What is the current support level?

Nasdaq gap down below its 21 days moving average.

S&P 500 gap down below its 21 days moving average and close near its 50 days moving average. This is a bearish sign.

Dow Jones fell hard below its 50 days moving average. This is a bearish sign.

Russell 2000 fell further below its 50 days moving average and maybe heading to its 200 days moving average. This index is deteriorating.

  • NASDAQ - above its 50 days moving average line near 14000; current at 14274
  • S&P 500 - above its 50 days moving average line near 4200; current at 4258
  • DJIA - below its 50 days moving average line near 34400; current at 33962
  • RUSSELL 2000 - below its 50 days moving average line near 2240; current at 2130

Psychological levels

  • Nasdaq is above 14000.
  • S&P 500 is now below 4300.
  • Dow Jones Industrial Average is now above 34000.
  • Small cap Russell 2000 is now below 2200.

Which industry groups show strength?

There are no groups showing accumulation. This is a bearish sign.


Which industry groups from recent strength show weakness today?

Sector Industry Sub-group # Stocks
Below 50 days moving average
Retail Consumer Services Clothing/Shoe/Accessory Stores -9 ANF, BURL, CATO, CHS, CTRN, GES, PLCE, TJX, ZUMZ
Below 50 days moving average
Industrial Capital Goods Electrical Products -2 CGNX, IPGP


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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