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Will the stock market turn around today - October 15, 2021

October 18, 2021
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market update

stock market turn around today

will the stock market turn around

Will the stock market turn around today?

The stock market indices continue to turn around this week as market indices continue to make progress on its short term moving averages. This may be a good sign for the start of a rally.

The market did well this week as it turn around from earlier losses at the beginning of the week.

Index	Oct. 11 - 15
Nasdaq	2.18%
S&P 500	1.82%
Dow Jones	1.58%
Russell 2000	1.46%

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What is the current support level?

Nasdaq climb above its 50 days moving average for the first time since Sep. 27, 2021.

S&P 500 and Dow Jones Industrial also climb above its 50 days moving average.

Russell 2000 didn't make much progress but still sits 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 14897
S&P 500 - below its 50 days moving average line near 4440; current at 4471
DJIA - below its 50 days moving average line near 35000; current at 35294
RUSSELL 2000 - above its 50 days moving average line near 2220; current at 2265

Psychological levels

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

Accumulation/Distribution for this week:

#industry groups 55 vs 15

#stocks 253 vs 72

Which industry groups show strength?

There are many industry groups under accumulation.

Sector	Industry	Sub-group	#	Stocks
Technology	Technology	Computer Software: Prepackaged Software (Special)	3	APP, HUBS, ZUO
Technology	Technology	Computer Software: Prepackaged Software (Financial)	2	COIN, QTWO
Technology	Technology	Computer Software: Programming, Data Processing (Content)	3	ANGI, GOOGL, MOMO

Retail	Capital Goods	Industrial Machinery/Components	2	ST, ZBRA
Industrial	Basic Industries	Paints/Coatings	2	PPG, RPM
Industrial	Transportation	Air Freight/Delivery Services	2	FDX, UPS
Industrial	Transportation	Trucking Freight/Courier Services	3	HTLD, JBHT, PTSI
Industrial	Public Utilities	Power Generation	2	PCG, XEL

Commodities	Energy	Industrial Machinery/Components	5	BLDP, EVA, FCEL, ORA, PLUG
Commodities	Technology	Semiconductors (Solar)	7	CSIQ, ENPH, FSLR, JKS, NOVA, SEDG, SPWR
Commodities	Basic Industries	Precious Metals	6	AGI, FNV, KGC, NEM, SBSW, WPM
Commodities	Basic Industries	Precious Metals	6	AA, CCJ, FCX, LAC, PLL, SCCO
Commodities	Energy	Oil & Gas Production: Drilling	2	HP, RIG
Commodities	Energy	Oilfield Services/Equipment	4	HAL, OII, SLB, TUSK
Commodities	Energy	Natural Gas Distribution	2	ENB, KMI

Financial	Finance	Major Banks	6	BAC, BK, GS, HSBC, MS, UBS
Financial	Finance	Finance: Consumer Services	3	COOP, SOFI, YRD
Financial	Miscellaneous	Business Services	5	AFRM, EEFT, FLYW, IIIV, STNE
Financial	Consumer Services	Real Estate Investment Trusts	3	ESNT, OCN, TREE
Financial	Consumer Services	Other Consumer Services (Specialty)	6	BR, ENV, HUT, LC, NDAQ, TRU

Which industry groups from recent strength show weakness today?

Below 50 days moving average
Retail	Consumer Services	Television Services	-2	DISCA, SBGI

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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