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Daily stock market update August 26, 2021 - Market retreats

August 27, 2021
MCBOSS CAPITAL
14 views

market update

How is stock market today?

Market retreats from its recent highs.

What is the current support level?

Nasdaq drop from its recent high.

S&P 500 drop to near its 10 days moving average. Watch for support near this level.

Dow Jones also drop to near its 10 and 21 days moving average.

Russell 2000 found resistance at its 50 days moving average and drop back to its 10 and 21 days moving average. It is important for this small cap index to overcome these levels.

NASDAQ - above its 50 days moving average line near 14500; current at 14945
S&P 500 - above its 50 days moving average line near 4350; current at 4470
DJIA - above its 50 days moving average line near 34800; current at 35213
RUSSELL 2000 - below its 50 days moving average line near 2250; current at 2213

Psychological levels

Nasdaq is now below 15000.
S&P 500 is now below 4500.
Dow Jones Industrial Average is above 35000.
Small cap Russell 2000 is above 2200.

Which industry groups show strength?

There are some accumulation from industry groups.

Sector	Industry	Sub-group	#	Stocks
Technology	Technology	Computer Software: Prepackaged Software (Security)	9	CHKP, CRWD, CYBR, MIME, OKTA, PANW, PING, ZIXI, ZS
Technology	Technology	Semiconductors	3	LSCC, MRVL, NVDA
Technology	Technology	Semiconductors (Manufacturing)	7	DIOD, MCHP, PI, POWI, STM, TSM, UMC

Retail	Consumer Services	Hotels/Resorts (Gaming)	7	DKNG, LVS, MCRI, MGM, PENN, RRR, SGMS
Retail	Consumer Services	Consumer Electronics/Video Chains	3	AMC, CNK, DLPN
Retail	Consumer Non-Durables	Consumer Specialties	2	MOV, SIG
Retail	Consumer Services	Other Specialty Stores (Leisure)	5	ASO, BBW, BGFV, DKS, HIBB

Industrial	Capital Goods	Fluid Controls	1	MTD

Health	Health Care	Major Pharmaceuticals	5	APLS, ARGX, ATRA, EXAS, SRPT
Health	Health Care	Medical Specialities (Services)	3	GH, NEO, PMD

Which industry groups from recent strength show weakness today?

Relative strength drops by 2%
Retail	Consumer Services	Clothing/Shoe/Accessory Stores	5	CHS, CTRN, GES, TJX, TLYS

Relative strength drops by 12%
Retail	Consumer Services	Department/Specialty Retail Stores	-2	BIG, DLTR

Relative strength drops by 11%
Financial	Finance	Investment Bankers/Brokers/Service	2	FUTU, JEF

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.