Research >> MCBOSS CAPITAL >> Stock market news today 2022 >> The stock market conditions seem to be deteriorating - February 18, 2022

Search more Products

View Coupon

The stock market conditions seem to be deteriorating amid Russia invade Ukraine crisis - February 18, 2022

February 20, 2022
7 views

market update

What happen to the market this week?

The stock market conditions seem to be deteriorating this week. All major indices suffer further losses this week. The Russia/Ukraine conflict continues to put a dark cloud over the stock market.

Index	Feb. 18
Nasdaq	-1.76%
S&P 500	-1.58%
Dow Jones	-1.90%
Russell 2000	-1.03%

What happens to the stock market if Russia invades Ukraine?

Watch the video below for full analysis.

What is the current support level?

Most of the major market indices fell further below its 10 days moving average. This is not a good sign.

Nasdaq is getting close to its Jan. 24 low of 13094 and may be testing it in coming week.

The market indices need to bounce back right away. Otherwise, we may see the major indices test new low in coming week.

NASDAQ - below its 50 days moving average line near 14700; current at 13548
S&P 500 - below its 50 days moving average line near 4590; current at 4348
DJIA - below its 50 days moving average line near 35500; current at 34079
RUSSELL 2000 - below its 50 days moving average line near 2120; current at 2009

Psychological levels

Nasdaq is now below 14000.
S&P 500 is now below 4400.
Dow Jones Industrial Average is below 35000.
Small cap Russell 2000 is above 2000.

Stock market breadth - Accumulation vs Distribution for this week:

#industry groups 87 vs 123

#stocks 167 vs 341

The stock market breadth has weakened as it is showing many stocks under distribution. This is not a good sign for the general market.

Check out our course How to measure or calculate stock market breadth.

Which industry groups show strength?

There are not many industry groups showing accumulation.

Sector	Industry	Sub-group	#	Stocks
Technology	Consumer Durables	Telecommunications Equipment	3	AAOI, CIEN, INFN
Technology	Technology	Radio And Television Broadcasting And Communications Equipment	2	CMBM, COMM

Retail	Consumer Non-Durables	Packaged Foods	3	CPB, K, SJM
Retail	Miscellaneous	Business Services	3	BKNG, EXPE, SABR
Retail	Consumer Durables	Automotive Aftermarket	5	ABG, AN, GPI, KAR, SAH

Industrial	Basic Industries	Metal Fabrications	1	RYI
Industrial	Basic Industries	Aluminum	4	ARNC, CENX, MTRN, RS
Industrial	Consumer Services	Marine Transportation	5	DSX, GOGL, GRIN, MATX, SBLK

Commodities	Basic Industries	Precious Metals	9	AEM, AGI, AU, BVN, FNV, GOLD, KGC, NEM, RGLD
Commodities	Energy	Oil & Gas Production: Drilling	1	PTEN

Financial	Finance	Finance: Consumer Services	2	COOP, UPST

Which industry groups from recent strength show weakness this week?

Below 50 days moving average
Technology	Technology	Computer Software: Prepackaged Software (Desktop)	-2	ADBE, CRNC

Below 50 days moving average
Technology	Technology	Computer Software: Prepackaged Software (Financial)	-6	BKI, GWRE, INTU, PEGA, QTWO, SSNC

Below 50 days moving average
Technology	Technology	Computer Software: Prepackaged Software (Security)	-7	KNBE, NICE, OKTA, PING, QLYS, S, VRNT

Below 50 days moving average
Technology	Technology	EDP Services (Gaming)	2	EA, TTWO

Relative strength drops by 1%
Technology	Public Utilities	Telecommunications Equipment (Foreign)	-1	SHEN

Below 10 days moving average
Retail	Consumer Non-Durables	Recreational Products/Toys, Motor Vehicles	-4	DOOO, FOXF, VSTO, YETI

Relative strength drops by 1%
Retail	Consumer Non-Durables	Food Distributors	2	PFGC, USFD

Relative strength drops by 3%
Industrial	Basic Industries	Major Chemicals: Plastics	-1	ASIX

Relative strength drops by 2%
Industrial	Basic Industries	Environmental Services	-1	GFL

Relative strength drops by 2%
Health	Health Care	Hospital/Nursing Management	-1	CYH

Relative strength drops by 10%
Health	Health Care	Biotechnology: Commercial Physical & Biological Research	-9	A, AVTR, BIO, CRL, ICLR, IQV, MEDP, SYNH, TMO

Relative strength drops by 3%
Health	Health Care	Medical Specialities (Supplies)	-1	WST

Relative strength drops by 6%
Health	Health Care	Biotechnology: Electromedical & Electrotherapeutic Apparatus	-3	MASI, OMCL, PLSE

Relative strength drops by 1%
Commodities	Energy	Integrated oil Companies	-2	AM, SNP

Relative strength drops by 2%
Commodities	Energy	Natural Gas Distribution	-5	ENB, MMP, MPLX, PAA, PAGP

Relative strength drops by 1%
Commodities	Energy	Oil & Gas Production (U.S.)	-7	CIVI, CLR, GPOR, PDCE, PHX, WLL, WTI

Relative strength drops by 1%
Financial	Finance	Major Banks (Midwest)	-1	WTFC

Relative strength drops by 7%
Financial	Finance	Major Banks (Regional)	-3	NTRS, PNC, RF

Relative strength drops by 2%
Financial	Finance	Major Banks (West)	5	CVBF, FIBK, HMST, TBK, WAFD

Relative strength drops by 1%
Financial	Miscellaneous	Business Services	-6	AFRM, PAGS, PAY, SQ, STNE, TOST

Relative strength drops by 1%
Financial	Consumer Services	Other Consumer Services (Specialty)	-11	BKKT, BR, DFIN, ENV, FIS, FISV, FLT, HIVE, ICE, INFO, TRU

Relative strength drops by 10%
Financial	Finance	Life Insurance	-5	AEL, LNC, PRI, PRU, SLF

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.

Thanks for subscribing to MCBOSS CAPITAL