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

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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.

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


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