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The stock market pull back - October 22, 2021
What happen to the market today?
The stock market pull back today but overall this week the market show strength. For some indices, this is the third consecutive week up. S&P and DJIA made new highs this week.
| Index | Oct. 18-22 |
| Nasdaq | 1.29% |
| S&P 500 | 1.64% |
| Dow Jones | 1.08% |
| Russell 2000 | 1.35% |
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What is the current support level?
Nasdaq pull back but still sit comfortably above its 10 days moving average.
S&P 500 fall slightly but is still further above its 50 days moving average.
Dow Jones Industrial climb further above its 50 days moving average.
Russell 2000 pull back slightly but still sits above its 10, 21, 50 and 200 days moving average. This is a good sign
- NASDAQ - above its 50 days moving average line near 14825; current at 15090
- S&P 500 - above its 50 days moving average line near 4440; current at 4544
- DJIA - above its 50 days moving average line near 35000; current at 35677
- RUSSELL 2000 - above its 50 days moving average line near 2220; current at 2291
Psychological levels
- Nasdaq is above 15000.
- S&P 500 is above 4500.
- Dow Jones Industrial Average is above 35000.
- Small cap Russell 2000 is above 2200.
Which industry groups show strength?
There are some industry groups under accumulation. Financials are showing strength.
| Sector | Industry | Sub-group | # | Stocks |
| Technology | Technology | Computer Software: Prepackaged Software (Financial) | 3 | BKI, COIN, EPAY |
| Technology | Technology | Computer Manufacturing | 2 | DELL, HPQ |
| Retail | Consumer Non-Durables | Shoe Manufacturing | 2 | CROX, SKX |
| Industrial | Basic Industries | Paper | 2 | CLW, GPK |
| Industrial | Basic Industries | Environmental Services | 5 | CLH, ECOL, TTEK, WCN, WM |
| Industrial | Transportation | Trucking Freight/Courier Services | 4 | ARCB, JBHT, LSTR, WERN |
| Health | Health Care | Major Pharmaceuticals (Diversified) | 4 | ABT, DHR, GSK, JNJ |
| Health | Health Care | Hospital/Nursing Management | 3 | CYH, HCA, THC |
| Health | Health Care | Medical/Nursing Services | 2 | ADUS, AMED |
| Health | Health Care | Medical Specialities (Services) | 2 | DGX, ME |
| Commodities | Energy | Industrial Machinery/Components | 3 | EVA, NEP, PLUG |
| Commodities | Energy | Oil & Gas Production (Royalty Trust) | 2 | PBT, SJT |
| Commodities | Basic Industries | Steel/Iron Ore | 2 | CLF, STLD |
| Financial | Finance | Major Banks (Midwest) | 2 | ASB, WTFC |
| Financial | Finance | Major Banks (Northeast) | 6 | BMTC, EBSB, MCB, MTB, SBNY, WBS |
| Financial | Finance | Major Banks (Southeast) | 7 | BPOP, FBK, FHN, HWC, SFNC, SNV, UCBI |
| Financial | Finance | Major Banks (West) | 4 | BANR, CFR, TBK, WAL |
| Financial | Finance | Investment Managers | 4 | APO, CG, CNS, STT |
| Financial | Consumer Services | Other Consumer Services (Specialty) | 4 | BCSF, BR, ENV, TW |
Which industry groups from recent strength show weakness today?
| Below 50 days moving average | ||||
| Technology | Technology | Computer Software: Programming, Data Processing (Content) | 3 | ANGI, GOOGL, MOMO |
| Relative strength drops by 1% | ||||
| Commodities | Energy | Integrated oil Companies | 9 | CLMT, CVI, DK, HFC, MPC, PBF, PSX, TRGP, VLO |
| Relative strength drops by 1% | ||||
| Commodities | Energy | Natural Gas Distribution | 2 | ENB, KMI |
| Relative strength drops by 1% | ||||
| Financial | Finance | Major Banks | 6 | BAC, BK, GS, HSBC, MS, UBS |
| Relative strength drops by 1% | ||||
| Financial | Capital Goods | Homebuilding | 2 | BZH, LEN |
| Relative strength drops by 1% | ||||
| Financial | Finance | Major Banks (Savings) | 6 | BKU, CASH, NWBI, PBCT, PFC, WSFS |
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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