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The stock market made new record closing high
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The stock market made new record closing high - October 29, 2021
What happen to the market today?
The stock market made new high and close out October with a strong month.
Overall this week, the major indices made a strong performance.
| Index | Oct. 25-29 |
| Nasdaq | 2.70% |
| S&P 500 | 1.33% |
| Dow Jones | 0.40% |
| Russell 2000 | 0.26% |
What is the current support level?
Nasdaq and S&P 500 made a new closing high and still sit comfortably above its 10 days moving average.
Dow Jones Industrial climb further above its 50 days moving average and is near a new high.
Russell 2000 slide a little 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 15235
- S&P 500 - above its 50 days moving average line near 4440; current at 4605
- DJIA - above its 50 days moving average line near 35000; current at 35819
- RUSSELL 2000 - above its 50 days moving average line near 2220; current at 2297
Psychological levels
- Nasdaq is above 15000.
- S&P 500 is now above 4600.
- Dow Jones Industrial Average is above 35000.
- Small cap Russell 2000 is above 2200.
Which industry groups show strength?
There are many industry groups under accumulation.
| Sector | Industry | Sub-group | # | Stocks |
| Technology | Technology | Computer Software: Prepackaged Software (Desktop) | 2 | CRNC, MSFT |
| Technology | Technology | Computer Communications Equipment | 3 | ANET, JNPR, SILC |
| Technology | Technology | Semiconductors | 7 | AOSL, AVGO, MPWR, MXL, NVDA, SITM, XLNX |
| Technology | Technology | Semiconductors (Equip) | 9 | ACLS, COHU, ENTG, FORM, ICHR, KLAC, MKSI, TER, UCTT |
| Technology | Technology | Semiconductors (Manufacturing) | 8 | CTS, MTSI, MX, ON, PI, POWI, STM, TSEM |
| Technology | Technology | Computer Software: Programming, Data Processing (Content) | 5 | FENG, GOOG, GOOGL, YNDX, Z |
| Retail | Capital Goods | Auto Manufacturing | 4 | F, LCID, RACE, TSLA |
| Retail | Capital Goods | Industrial Machinery/Components | 2 | OLED, SYNA |
| Retail | Consumer Services | Hotels/Resorts (Lodging) | 3 | HLT, MAR, WH |
| Retail | Consumer Services | Clothing/Shoe/Accessory Stores | 3 | BOOT, GES, ROST |
| Industrial | Basic Industries | Major Chemicals: Others | 4 | ALB, ASPN, LIN, LTHM |
| Industrial | Miscellaneous | Business Services (Market Research) | 6 | FDS, MCO, MORN, NLSN, SPGI, TRI |
| Industrial | Consumer Durables | Metal Fabrications | 4 | ENS, GNRC, VRT, WIRE |
| Industrial | Transportation | Trucking Freight/Courier Services | 2 | ARCB, FWRD |
| Industrial | Capital Goods | Auto Manufacturing | 3 | OSK, PCAR, SHYF |
| Health | Health Care | Major Pharmaceuticals (Diversified) | 2 | GSK, LLY |
| Health | Health Care | Biotechnology: Commercial Physical & Biological Research | 3 | AVTR, MEDP, TMO |
| Health | Health Care | Medical Specialities (Services) | 3 | LH, ME, PROG |
| Health | Health Care | Biotechnology: Electromedical & Electrotherapeutic Apparatus | 4 | FONR, INMD, ISRG, OMCL |
| Commodities | Energy | Industrial Machinery/Components | 9 | AMRC, BEP, BEPC, BLDP, BLNK, CWEN, IEA, NEP, PLUG |
| Commodities | Technology | Semiconductors (Solar) | 6 | CSIQ, ENPH, FSLR, NOVA, SEDG, SPWR |
| Commodities | Basic Industries | Steel/Iron Ore | 2 | NUE, TX |
| Financial | Finance | Investment Managers | 14 | AB, AMG, ARES, BEN, CG, DHIL, HLNE, IVZ, JHG, KKR, STEP, TPVG, TROW, WETF |
| Financial | Consumer Services | Other Consumer Services (Specialty) | 9 | BKKT, CME, ECPG, HUT, ICE, INFO, LC, MSCI, TW |
Which industry groups from recent strength show weakness today?
| Relative strength drops by 1% | ||||
| Industrial | Energy | Industrial Machinery/Components | 2 | DDD, SSYS |
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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