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Daily stock market update August 30, 2021 - Market continue to move higher

How is stock market today?

Market continue to move higher as Nasdaq and S&P 500 lead to new highs.

What is the current support level?

Nasdaq hit new high.

S&P 500 also hit new high closing.

Dow Jones slide a little after rebounding from its 10 and 21 days moving average and is near recent high.

Russell 2000 slide a little after rebounding above its 50 days moving average. This is a really good sign.

  • NASDAQ - above its 50 days moving average line near 14500; current at 15265
  • S&P 500 - above its 50 days moving average line near 4350; current at 4528
  • DJIA - above its 50 days moving average line near 34800; current at 35399
  • RUSSELL 2000 - below its 50 days moving average line near 2250; current at 2265

Psychological levels

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

Which industry groups show strength?

There is only a few industry groups under accumulation. 

Sector Industry Sub-group # Stocks
Technology Technology Semiconductors 2 AMBA, SITM
Retail Consumer Services Other Specialty Stores (Leisure) 2 BGFV, DKS
Health Health Care Medical Specialities (Services) 3 GH, NEO, PMD
Health Health Care Biotechnology: Electromedical & Electrotherapeutic Apparatus 2 HRC, IDXX
Financial Miscellaneous Business Services 3 AFRM, FLYW, GDOT


Which industry groups from recent strength show weakness today?

Relative strength drops by 11%
Retail Consumer Services Clothing/Shoe/Accessory Stores -5 HBI, PVH, RL, UFI, VNCE
Relative strength drops by 2%
Retail Consumer Services Marine Transportation -2 PTON, UBER
Relative strength drops by 10%
Financial Finance Life Insurance 3 MET, PRU, PUK


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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