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

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.

  

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