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Stock Market News - October 13, 2021
How is market doing today?
The stock market is still acting weak with not much signs of accumulation. However, it did close in the upper range.
What is the current support level?
Nasdaq and S&P 500 rebound to its 21 days moving average.
Dow Jones slide a little today after recently finding resistance at its 50 days moving average.
Russell 2000 is holding slightly above its 10, 21, 50 and 200 days moving average as they all converge. This is a good sign
- NASDAQ - below its 50 days moving average line near 14825; current at 14571
- S&P 500 - below its 50 days moving average line near 4440; current at 4363
- DJIA - below its 50 days moving average line near 35000; current at 34377
- RUSSELL 2000 - above its 50 days moving average line near 2220; current at 2241
Psychological levels
- Nasdaq is below 15000.
- S&P 500 is below 4500.
- Dow Jones Industrial Average is below 35000.
- Small cap Russell 2000 is above 2200.
Which industry groups show strength?
There are not many industry groups under accumulation.
| Sector | Industry | Sub-group | # | Stocks |
| Commodities | Energy | Industrial Machinery/Components | 8 | AQN, AY, BEP, BEPC, BLDP, CWEN, ORA, PLUG |
| Commodities | Technology | Semiconductors (Solar) | 8 | CSIQ, ENPH, FSLR, JKS, NOVA, RUN, SEDG, SPWR |
| Commodities | Basic Industries | Precious Metals | 6 | AGI, KGC, NEM, RGLD, SBSW, WPM |
| Commodities | Basic Industries | Precious Metals | 5 | CCJ, FCX, LAC, PLL, SCCO |
| Commodities | Energy | Oilfield Services/Equipment | 2 | HAL, SLB |
| Commodities | Energy | Natural Gas Distribution | 2 | ENB, KMI |
| Financial | Finance | Finance: Consumer Services | 3 | COOP, SOFI, YRD |
Which industry groups from recent strength show weakness today?
| Relative strength drops by 2% | ||||
| Retail | Consumer Services | Hotels/Resorts (Lodging) | 5 | CHH, H, HLT, MAR, WH |
| Relative strength drops by 6% | ||||
| Financial | Finance | Life Insurance | 2 | GNW, PRI |
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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