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Daily stock market update July 23, 2021 - Market close at new highs

How is stock market today?

Market continue to rebound for the fourth day, and the major indices close at new highs. This is a very bullish sign.

The market made an impressive recovery from drops on Monday and the recover throughout the week.

Index Jul. 19-23
Nasdaq 2.84%
S&P 500 1.96%
Dow Jones 1.08%
Russell 2000 2.15%

What is the current support level?

Nasdaq, S&P 500, Dow Jones close at new highs after rebounding strongly above its 10 days moving average. This is a good sign.

Russell 2000 continue to struggle near its10 days moving average. It is still far below its 50 days moving average.

  • NASDAQ - above its 50 days moving average line near 14000; current at 14836
  • S&P 500 - above its 50 days moving average line near 4200; current at 4367
  • DJIA - above its 50 days moving average line near 34400; current at 35061
  • RUSSELL 2000 - below its 50 days moving average line near 2240; current at 2209

Psychological levels

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

Which industry groups show strength?

There are more groups showing accumulation. 

Sector Industry Sub-group # Stocks
Technology Technology EDP Services (Tech Services) 3 CACI, DAVA, WIT
Technology Technology Semiconductors (Equip) 4 ASML, COHU, KLAC, LRCX
Technology Technology Computer Software: Programming, Data Processing (Content) 6 CARG, FB, GOOGL, MTCH, SNAP, TWTR
Retail Consumer Non-Durables Shoe Manufacturing 3 CROX, RCKY, SKX
Retail Consumer Services Marine Transportation 2 CAR, PLNT
Retail Consumer Services Restaurants 10 CMG, DPZ, GTIM, KRUS, MCD, PZZA, QSR, SBUX, WING, YUM
Industrial Finance Diversified Commercial Services 2 IBP, ROL
Industrial Technology Advertising 2 IPG, TTD
Health Health Care Major Pharmaceuticals 5 ALNY, ARVN, BNTX, MRNA, TBIO
Health Health Care Major Pharmaceuticals (Ethical Drugs) 2 NVO, PFE
Health Health Care Medical/Dental Instruments 7 BSX, EW, LIVN, QDEL, THC, TNDM, ZBH
Financial Capital Goods Homebuilding 3 DHI, KBH, TPH
Financial Finance Finance: Consumer Services 2 OMF, WRLD


Which industry groups from recent strength show weakness today?

Relative strength drops by 2%
Retail Consumer Non-Durables Package Goods/Cosmetics 4 ELF, IPAR, LFVN, PBH
Relative strength drops by 1%
Industrial Consumer Durables Metal Fabrications 2 ABB, ENS
Relative strength drops by 5%
Financial Finance Major Banks 3 MS, UBS, WFC

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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