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Daily stock market update September 7, 2021 - Market show mixed signals

September 08, 2021
MCBOSS CAPITAL
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market update

How is stock market today?

Market show mixed signals. Nasdaq lead higher but DJIA show weakness.

What is the current support level?

Nasdaq hit another new closing high.

S&P 500 slide but is near recent high.

Dow Jones drop below its 10 and 21 days moving average and is near its 50 days moving average. Watch for support at this level.

Russell 2000 drop slightly for second day after making a new recent high.

NASDAQ - above its 50 days moving average line near 14500; current at 15374
S&P 500 - above its 50 days moving average line near 4350; current at 4520
DJIA - above its 50 days moving average line near 34800; current at 35100
RUSSELL 2000 - below its 50 days moving average line near 2250; current at 2275

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
Retail	Capital Goods	Auto Manufacturing	2	TM, TSLA
Retail	Consumer Services	Hotels/Resorts (Gaming)	3	DKNG, PENN, WYNN

Which industry groups from recent strength show weakness today?

Relative strength drops by 10%
Technology	Technology	Computer Software: Prepackaged Software (Database)	-2	MSTR, NTCT

Relative strength drops by 1%
Technology	Technology	Computer Manufacturing	-2	HPQ, TACT

Below 50 days moving average
Retail	Consumer Non-Durables	Plastic Products	-2	MIDD, WHR

Relative strength drops by 1%
Commodities	Energy	Oil & Gas Production (U.S.)	10	AR, CHK, COG, CRC, DEN, MGY, RRC, SWN, WLL, XEC

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.