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US stock market news today - 2021 November
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The stock market made a new closing high with Santa rally - December 23, 2021
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The stock market made a new closing high with Santa rally - December 23, 2021
What happen to the market today?
The stock market show tremendous improvement this week as S&P 500 was able to make a new closing high. Perhaps Santa deliver the present early this year to investors as market rally this week.
The major indices deliver solid gains this week.
| Index | Dec. 20-23 |
| Nasdaq | 3.19% |
| S&P 500 | 2.28% |
| Dow Jones | 1.65% |
| Russell 2000 | 3.11% |
What is the current support level?
Nasdaq rebound above its 50 days moving average for the third time. Perhaps the third time is the charm.
S&P 500 made new closing high. This is a bullish signal.
Dow Jones Industrial Average found support at its 200 day moving averages this week.
Russell 2000 also show good signs as it rise above its 10 and 21 days moving average.
- NASDAQ - above its 50 days moving average line near 15500; current at 15653
- S&P 500 - above its 50 days moving average line near 4630; current at 4725
- DJIA - below its 50 days moving average line near 35600; current at 35950
- RUSSELL 2000 - below its 50 days moving average line near 2300; current at 2241
Psychological levels
- Nasdaq is above 15000.
- S&P 500 is now above 4700.
- Dow Jones Industrial Average is above 35000.
- Small cap Russell 2000 is now above 2200.
Stock market breadth - Accumulation/Distribution for this week:
#industry groups 38 vs 4
#stocks 174 vs 27
The stock market breadth continue to be lackluster but has improve somewhat. Lack of distribution is a good sign. We hope to see more stocks be accumulated if this rally were to continue to succeed in the new year.
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 | Technology | EDP Services (Medical) | 2 | CERN, CHNG |
| Technology | Technology | Electronic Components | 2 | MU, SIMO |
| Retail | Consumer Services | Hotels/Resorts (Lodging) | 3 | H, HLT, WH |
| Retail | Consumer Services | Marine Transportation | 8 | CCL, CUK, EDR, LYV, NCLH, RCL, VAC, WMG |
| Retail | Transportation | Air Freight/Delivery Services | 6 | AAL, ALGT, BLDE, RYAAY, SKYW, UAL |
| Industrial | Miscellaneous | Business Services (Outsourcing) | 3 | EXLS, HQY, PAYX |
| Industrial | Consumer Services | Diversified Commercial Services | 3 | ADT, ARLO, LAKE |
| Commodities | Basic Industries | Agricultural Chemicals | 3 | AVD, CF, NTR |
| Financial | Consumer Services | Real Estate Investment Trusts | 2 | GPMT, LADR |
| Financial | Finance | Life Insurance | 2 | RGA, VOYA |
Which industry groups from recent strength show weakness today?
| Relative strength drops by 1% | ||||
| Industrial | Miscellaneous | Business Services (Market Research) | 3 | SPGI, TRI, VRSK |
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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