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Daily stock market update August 6, 2021 - Market show more strength

August 07, 2021
MCBOSS CAPITAL
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market update

How is stock market today?

Market show more strength as S&P and DOW hit new closing high.

For the week, the market have a good week with some gains as major indices hit new high.

Index	Aug. 2-6
Nasdaq	1.11%
S&P 500	0.94%
Dow Jones	0.78%
Russell 2000	0.97%

What is the current support level?

Nasdaq fall back slightly from its recent high.

S&P 500 and Dow Jones hit new closing high.

Russell 2000 recover above its 10 and 21 days moving average.

NASDAQ - above its 50 days moving average line near 14000; current at 14835
S&P 500 - above its 50 days moving average line near 4200; current at 4436
DJIA - above its 50 days moving average line near 34400; current at 35208
RUSSELL 2000 - below its 50 days moving average line near 2240; current at 2247

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	3	MU, SIMO, WDC
Technology	Technology	Semiconductors	6	CEVA, HIMX, LSCC, MXL, RMBS, SITM
Technology	Technology	Radio And Television Broadcasting And Communications Equipment	2	ADTN, SATS

Retail	Consumer Services	Hotels/Resorts (Gaming)	2	MGM, PENN

Industrial	Consumer Durables	Building Products	6	ATKR, AZEK, GCP, MWA, TREX, WTS
Industrial	Miscellaneous	Business Services (Market Research)	5	IT, MCO, MORN, SPGI, TRI
Industrial	Technology	Professional Services	4	AMN, ASGN, CCRN, KELYA
Industrial	Basic Industries	Electric Utilities: Central	2	ETR, POR

Financial	Finance	Finance: Consumer Services	2	ATLC, CACC
Financial	Finance	Investment Bankers/Brokers/Service	2	BGCP, XP
Financial	Finance	Investment Managers	8	AB, APAM, BEN, DHIL, KKR, MARA, MN, VRTS
Financial	Consumer Services	Other Consumer Services (Specialty)	6	DFIN, ECPG, INFO, NAVI, PRAA, VIRT
Financial	Finance	Life Insurance	5	GNW, MET, PRU, RGA, VOYA

Which industry groups from recent strength show weakness today?

Relative strength drops by 3%
Technology	Technology	Semiconductors (Manufacturing)	12	ADI, AMKR, CREE, DIOD, IMOS, MCHP, ON, PI, POWI, QRVO, TSEM, UMC

Relative strength drops by 4%
Retail	Consumer Services	RETAIL: Building Materials	2	FND, GMS

Relative strength drops by 4%
Industrial	Basic Industries	Environmental Services	-2	SRCL, TISI

Relative strength drops by 4%
Health	Health Care	Major Pharmaceuticals (Ethical Drugs)	2	NVO, PFE

Relative strength drops by 1%
Health	Health Care	Other Pharmaceuticals	-3	CAH, OMI, PETQ

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.