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Daily stock market update August 4, 2021 - Market show mixed signals

How is stock market today?

Market show mixed signals as Nasdaq continue to rise, but S&P and Dow Jones slide.

What is the current support level?

Nasdaq move up slightly once again.

S&P 500 and Dow Jones slide but is still 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 14780
  • S&P 500 - above its 50 days moving average line near 4200; current at 4402
  • DJIA - above its 50 days moving average line near 34400; current at 34790
  • RUSSELL 2000 - below its 50 days moving average line near 2240; current at 2196

Psychological levels

  • Nasdaq is above 14761.
  • S&P 500 is above 4400.
  • Dow Jones Industrial Average is below 35000.
  • Small cap Russell 2000 is below 2200.

Which industry groups show strength?

There are some industry groups showing accumulation. 

Sector Industry Sub-group # Stocks
Technology Technology Electronic Components 2 MU, SIMO
Technology Technology Semiconductors 8 AMD, HIMX, LSCC, MXIM, MXL, NVDA, NXPI, RMBS
Technology Technology Semiconductors (Manufacturing) 11 ADI, AMKR, DIOD, IMOS, MCHP, ON, PI, POWI, QRVO, STM, TSEM
Retail Capital Goods Auto Manufacturing 2 HMC, TSLA
Industrial Miscellaneous Business Services (Market Research) 4 IT, MCO, MORN, SPGI
Industrial Public Utilities Water Supply 2 AWK, AWR
Health Finance Specialty Insurers 2 AWK, AWR
Financial Finance Finance: Consumer Services 3 ATLC, CACC, COOP
Financial Finance Investment Bankers/Brokers/Service 2 HOOD, XP

Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Technology Technology EDP Services (Tech Services) 3 CACI, DAVA, WIT
Relative strength drops by 3%
Industrial Technology Industrial Machinery/Components 2 GE, TRS


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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