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US stock market news today - 2021 November
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The stock market continue its downtrend - December 17, 2021
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The stock market continue its downtrend - December 17, 2021
What happen to the market today?
The stock market continue its downtrend this week despite a relief bounce right after the Federal reserve speaks about tapering faster and possibly ending the bond buying program by March, and possibly 3 interest rake hikes next year to deal with inflation issue.
All major indices are down this week.
| Index | Dec. 13-17 |
| Nasdaq | -2.95% |
| S&P 500 | -1.94% |
| Dow Jones | -1.68% |
| Russell 2000 | -1.71% |
What is the current support level?
Nasdaq is on the edge as it might make a new low as compared to the previous low a few weeks ago.
S&P 500 fell back to its 50 day moving averages. Look for support yet.
Dow Jones Industrial Average fell back below its 50 day moving averages.
Russell 2000 continue to be the weakest index as it is still below its 10 days moving average. This is not a good sign.
- NASDAQ - above its 50 days moving average line near 15200; current at 15169
- S&P 500 - above its 50 days moving average line near 4500; current at 4620
- DJIA - below its 50 days moving average line near 35200; current at 35365
- RUSSELL 2000 - below its 50 days moving average line near 2300; current at 2173
Psychological levels
- Nasdaq is above 15000.
- S&P 500 is now below 4700.
- Dow Jones Industrial Average is above 35000.
- Small cap Russell 2000 is now below 2200.
Stock market breadth - Accumulation/Distribution for this week:
#industry groups 59 vs 103
#stocks 275 vs 561
The stock market breadth has been favoring the defensive stocks while most other sectors are experiencing further distribution.
Check out our course How to measure or calculate stock market breadth.
Which industry groups show strength?
Market continue to favor mostly defensive industry groups such as utilities, health and consumer staples.
| Sector | Industry | Sub-group | # | Stocks |
| Technology | Consumer Durables | Telecommunications Equipment | 5 | CIEN, CLFD, INFN, LITE, VIAV |
| Retail | Consumer Non-Durables | Packaged Foods | 2 | ADM, ANDE |
| Retail | Consumer Non-Durables | Meat/Poultry/Fish | 2 | HRL, TSN |
| Retail | Consumer Services | Catalog/Specialty Distribution | 2 | LNDC, MKC |
| Retail | Consumer Services | Food Chains | 3 | IMKTA, NGVC, SFM |
| Retail | Consumer Non-Durables | Farming/Seeds/Milling | 3 | MO, PM, VGR |
| Industrial | Basic Industries | Electric Utilities: Central | 3 | AEP, ETR, POR |
| Industrial | Public Utilities | Water Supply | 2 | AWK, AWR |
| Health | Finance | Specialty Insurers | 3 | CRVL, PINC, VCRA |
| Health | Health Care | Major Pharmaceuticals | 26 | ALKS, ALNY, AMGN, ANAB, ARGX, ARNA, BHVN, BIIB, BLUE, BPMC, CRSP, CYTK, DCPH, EBS, EXEL, GILD, HALO, INCY, INVA, IONS, NKTR, NTLA, PBYI, RARE, SAGE, VRTX |
| Health | Health Care | Major Pharmaceuticals (Diversified) | 2 | ABT, JNJ |
| Health | Health Care | Major Pharmaceuticals (Ethical Drugs) | 6 | ABBV, BMY, GRFS, NVS, PFE, ZTS |
| Commodities | Basic Industries | Precious Metals | 3 | NEM, RGLD, WPM |
Which industry groups from recent strength show weakness today?
| Below 50 days moving average | ||||
| Technology | Technology | EDP Services (Tech Services) | 5 | ACN, CTSH, IBM, UIS, WIT |
| Below 50 days moving average | ||||
| Technology | Technology | Semiconductors (Manufacturing) | -8 | ADI, AMKR, CTS, DIOD, ON, QRVO, STM, TXN |
| Relative strength drops by 1% | ||||
| Retail | Consumer Services | Automotive Aftermarket (Parts) | -2 | CPRT, LKQ |
| Relative strength drops by 1% | ||||
| Retail | Consumer Services | RETAIL: Building Materials | -9 | FND, GMS, GWW, HD, LL, LOW, SITE, TITN, TSCO |
| Below 50 days moving average | ||||
| Retail | Consumer Non-Durables | Consumer Specialties | -3 | BRLT, FOSL, MOV |
| Relative strength drops by 17% | ||||
| Financial | Capital Goods | Homebuilding | -8 | KBH, LEN, MHO, MTH, TMHC, TPH, BZH, CCS |
| Below 50 days moving average | ||||
| Financial | Finance | Finance: Consumer Services | -4 | TSLX, WD, CGBD, CIT |
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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