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Daily stock market update August 26, 2021 - Market retreats

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.

  

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