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Daily stock market update August 2, 2021 - Market is trying to hold on

How is stock market today?

Market is trying to hold on to recent gains.

What is the current support level?

Nasdaq move up slightly.

S&P 500 and Dow Jones are now near recent high.

Russell 2000 is once again testing its 10 and 21 days moving average. It is nearing its 50 days moving average.

  • NASDAQ - above its 50 days moving average line near 14000; current at 14681
  • S&P 500 - above its 50 days moving average line near 4200; current at 4387
  • DJIA - above its 50 days moving average line near 34400; current at 34838
  • RUSSELL 2000 - below its 50 days moving average line near 2240; current at 2215

Psychological levels

  • Nasdaq is above 14000.
  • S&P 500 is above 4400.
  • Dow Jones Industrial Average is below 35000.
  • Small cap Russell 2000 is above 2200.

Which industry groups show strength?

There are some industry groups showing accumulation. 

Sector Industry Sub-group # Stocks
Technology Technology Semiconductors 6 AMD, CEVA, MPWR, MXL, QCOM, XLNX
Technology Technology Semiconductors (Manufacturing) 8 ADI, AMKR, IMOS, MTSI, ON, PI, POWI, STM
Retail Capital Goods Auto Manufacturing 2 RACE, TSLA
Industrial Consumer Services Other Consumer Services 2 CSV, SCI
Industrial Basic Industries Paper 2 GPK, PKG
Industrial Basic Industries Environmental Services 3 GFL, WCN, WM
Health Health Care Medical/Dental Instruments 13 ALGN, BSX, CNMD, EW, IART, ICUI, ITGR, LIVN, MMSI, RGEN, SILK, SYK, TNDM
Commodities Energy Coal Mining 2 ARCH, BTU
Commodities Basic Industries Steel/Iron Ore 4 CLF, MT, NUE, STLD
Financial Consumer Services Other Consumer Services (Specialty) 4 FISV, INFO, PFMT, TRU


Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Technology Technology Computer Software: Programming, Data Processing (Content) -3 ATHM, PINS, YNDX



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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