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Daily stock market update August 31, 2021 - Market is holding on

How is stock market today?

Market is holding on as Nasdaq and S&P 500 are near recent highs.

What is the current support level?

Nasdaq slide a little after hitting new high.

S&P 500 slide a little after previous closing high.

Dow Jones drop to near its 10 and 21 days moving average and is near recent high.

Russell 2000 move up slightly after recently 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 15259
  • S&P 500 - above its 50 days moving average line near 4350; current at 4515
  • DJIA - above its 50 days moving average line near 34800; current at 35360
  • RUSSELL 2000 - below its 50 days moving average line near 2250; current at 2273

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 are few industry groups under accumulation. 

Sector Industry Sub-group # Stocks
Technology Public Utilities Telecommunications Equipment (Wireless) 2 IRDM, VG
Retail Health Care Medical/Nursing Services 2 CVS, WBA
Retail Miscellaneous Business Services (Internet) 3 AMZN, DASH, PDD
Health Health Care Major Pharmaceuticals (Generic Drugs) 2 EGRX, RDY
Health Health Care Medical/Nursing Services 3 AMED, LHCG, RDNT
Health Health Care Medical Specialities (Services) 3 DGX, GH, PMD
Health Health Care Medical Specialities (Supplies) 2 PDCO, WST
Financial Consumer Services Real Estate Investment Trusts 24 AMH, AMT, AVB, CONE, CPT, CRESY, CUBE, DLR, EDR, ELS, EPRT, ESS, LSI, MAA, MGP, NNN, PLD, PSB, REXR, STAG, STOR, SUI, UDR, VICI


Which industry groups from recent strength show weakness today?

Relative strength drops by 1%
Technology Technology Computer Software: Prepackaged Software (Security) 9 CRWD, CYBR, MIME, OKTA, PANW, PING, SAIL, ZIXI, ZS
Relative strength drops by 1%
Industrial Miscellaneous Business Services (Market Research) 5 IT, MCO, MORN, SPGI, TRI
Relative strength drops by 1%
Industrial Transportation Railroads -5 CP, CSX, KSU, NSC, UNP

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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