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Daily stock market update August 3, 2021 - Market edge up

How is stock market today?

Market edge up to near recent high.

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 4423
  • DJIA - above its 50 days moving average line near 34400; current at 35120
  • RUSSELL 2000 - below its 50 days moving average line near 2240; current at 2223

Psychological levels

  • Nasdaq is above 14761.
  • S&P 500 is above 4400.
  • Dow Jones Industrial Average is above 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 Electronic Components 2 DXC, PRFT
Technology Technology Semiconductors (Manufacturing) 8 AMKR, DIOD, IMOS, MCHP, ON, PI, STM, TSEM
Retail Consumer Services Food Chains 2 KR, TA
Industrial Consumer Durables Building Products 5 ATKR, CSTE, FBHS, GCP, WTS
Industrial Miscellaneous Business Services (Market Research) 3 IT, MORN, SPGI
Industrial Capital Goods Industrial Machinery/Components (Tools) 2 KMT, XYL
Industrial Transportation Trucking Freight/Courier Services 2 ARCB, SAIA
Financial Finance Finance: Consumer Services 3 CACC, COOP, SC


Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Retail Capital Goods Auto Manufacturing 3 DECK, NKE, SHOO
Relative strength drops by 1%
Retail Capital Goods Auto Parts:O.E.M. (Parts) -2 DORM, XPEL
Relative strength drops by 1%
Commodities Basic Industries Steel/Iron Ore 4 CLF, MT, NUE, STLD



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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