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Daily stock market update August 18, 2021 - Market is testing key moving averages

August 19, 2021
MCBOSS CAPITAL
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market update

How is stock market today?

Market is testing key moving averages.

What is the current support level?

Nasdaq drop to its 50 days moving average. Watch for support at this level.

S&P 500 and Dow Jones drop below its 21 days moving average.

Russell 2000 drop further below its 10 days moving average. It is now near its 200 days moving average. This is not a good sign for small caps.

NASDAQ - above its 50 days moving average line near 14000; current at 14525
S&P 500 - above its 50 days moving average line near 4200; current at 4400
DJIA - above its 50 days moving average line near 34400; current at 34943
RUSSELL 2000 - below its 50 days moving average line near 2240; current at 2177

Psychological levels

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

Which industry groups show strength?

There is not much accumulation from industry groups.

Sector	Industry	Sub-group	#	Stocks
Health	Health Care	Medical/Dental Instruments	2	ITGR, PODD

Which industry groups from recent strength show weakness today?

None

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.