Research >> MCBOSS CAPITAL >> Stock market news today 2022 >> The stock market rebound strongly this week - July 8, 2022
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The stock market rebound strongly this week - July 8, 2022
What happen to the market this week?
The stock market rebound strongly this week and show strong technical action around short term moving averages. The job report on Friday was much stronger than expected.
Second quarter earnings season is starting. This week we will see big banks reporting. Market may be more volatile during earnings season. CPI data will be out on Wednesday. This could move the market up or down big.
What is the current support level?
The major indices are all back above its 10 and 21 days moving averages. Nasdaq is just slightly below its 50 days moving average. This is really good technical design. The 50 days moving average will be the next challenge soon if the market can make more headway.
- NASDAQ - below its 50 days moving average line near 11660; current at 11635
- S&P 500 - below its 50 days moving average line near 4000; current at 3899
- DJIA - below its 50 days moving average line near 32000; current at 31338
- RUSSELL 2000 - below its 50 days moving average line near 1800; current at 1769
- Nasdaq is now above 11000.
- S&P 500 is sitting near 3900.
- Dow Jones Industrial Average is above 31000.
- Small cap Russell 2000 is above 1700.
Stock market breadth - Accumulation vs Distribution for this week:
Accumulation outpace distribution this week, but the numbers are still small. Ideally we would like to see 300 or 400 stocks under accumulation.
Check out our course How to measure or calculate stock market breadth.
Which stocks from each industry group show strength?
There is some accumulation this week. Biotech and health related industry groups are leading the market.
|Technology||Technology||Computer Software: Prepackaged Software (Special)||3||AVLR, JAMF, VRRM|
|Technology||Technology||Computer Software: Prepackaged Software (Database)||1||MDB|
|Technology||Technology||Computer Software: Prepackaged Software (Enterprise)||1||BRZE|
|Technology||Technology||EDP Services (Gaming)||1||RBLX|
|Technology||Technology||EDP Services (Medical)||5||DH, EVH, PRVA, SGFY, SLP|
|Technology||Technology||Computer Software: Prepackaged Software (Security)||1||FTNT|
|Technology||Technology||EDP Services (Integrated System)||1||AGYS|
|Technology||Technology||Computer Communications Equipment||2||NTGR, SWIR|
|Technology||Technology||EDP Services (Tech Services)||2||GTLB, INFY|
|Technology||Technology||Computer Software: Programming, Data Processing (Content)||1||GOOGL|
|Technology||Consumer Services||Television Services||1||CALX|
|Technology||Technology||Radio And Television Broadcasting And Communications Equipment||1||ADTN|
|Technology||Consumer Durables||Telecommunications Equipment||1||CLFD|
|Retail||Consumer Non-Durables||Shoe Manufacturing||1||CROX|
|Retail||Capital Goods||Auto Manufacturing||1||LI|
|Retail||Capital Goods||Auto Parts:O.E.M. (Equipment)||1||TEN|
|Retail||Consumer Non-Durables||Beverages Alcoholic (Production/Distribution)||1||MGPI|
|Retail||Consumer Non-Durables||Beverages Non-Alcoholic (Production/Distribution)||2||CELH, MNST|
|Retail||Consumer Non-Durables||Consumer Electronics/Appliances||1||GRMN|
|Retail||Consumer Services||Other Consumer Services||1||FC|
|Retail||Consumer Non-Durables||Package Goods/Cosmetics||1||ELF|
|Retail||Consumer Services||Catalog/Specialty Distribution||1||APRN|
|Retail||Consumer Non-Durables||Packaged Foods||1||LW|
|Retail||Consumer Durables||Office Equipment/Supplies/Services||1||BSET|
|Retail||Consumer Services||Hotels/Resorts (Lodging)||1||HTHT|
|Retail||Consumer Services||Consumer Electronics/Video Chains||1||CNK|
|Retail||Consumer Non-Durables||Recreational Products/Toys||1||FNKO|
|Retail||Consumer Services||RETAIL: Building Materials||2||BECN, GWW|
|Retail||Miscellaneous||Business Services (Internet)||2||CPNG, DASH|
|Retail||Consumer Services||Restaurants||2||KRUS, WING|
|Industrial||Consumer Durables||Consumer Electronics/Appliances||1||LII|
|Industrial||Basic Industries||Mining & Quarrying of Nonmetallic Minerals (No Fuels)||1||MLM|
|Industrial||Basic Industries||Major Chemicals: Others||2||ATC, OLN|
|Industrial||Miscellaneous||Business Services (Outsourcing)||1||UNF|
|Industrial||Capital Goods||Fluid Controls||3||IEX, MTD, ZWS|
|Industrial||Energy||Industrial Machinery/Components||2||HOLI, VJET|
|Industrial||Consumer Services||Diversified Commercial Services||1||NSSC|
|Industrial||Transportation||Trucking Freight/Courier Services||1||TFII|
|Health||Health Care||Major Pharmaceuticals||25||ALKS, APLS, BGNE, BLUE, CHRS, CORT, CRSP, DNA, EDIT, ENTA, FATE, HALO, HRMY, ICPT, INSM, KDNY, MRNA, NGM, NTLA, OCGN, QURE, SRNE, SRPT, SURF, VERV|
|Health||Health Care||Medical Specialities||3||CI, ONEM, PGNY|
|Health||Health Care||Medical/Nursing Services||2||ACHC, AMED|
|Health||Health Care||Medical/Dental Instruments||3||DXCM, INGN, VIVO|
|Health||Health Care||Medical Specialities (Services)||1||IRTC|
|Health||Health Care||Medical Specialities (Supplies)||1||WST|
|Health||Health Care||Biotechnology: Electromedical & Electrotherapeutic Apparatus||1||AXNX|
|Commodities||Technology||Semiconductors (Solar)||4||DQ, ENPH, FSLR, JKS|
|Financial||Finance||Major Banks (Northeast)||1||TRMK|
|Financial||Capital Goods||Major Banks (West)||1||LEN|
|Financial||Miscellaneous||Finance: Consumer Services||2||EVOP, PAYS|
|Financial||Finance||Business Services||2||COWN, LAZ|
|Financial||Consumer Services||Real Estate Investment Trusts||2||RDN, RKT|
|Financial||Consumer Services||Real Estate Investment Trusts||2||NTST, SRC|
|Financial||Consumer Services||Major Banks (Savings)||4||HIVE, IMXI, PRAA, RIOT|
Which stocks from each industry group show weakness?
|Technology||Technology||Computer Software: Prepackaged Software (Special)||-1||HUBS|
|Technology||Technology||Computer Software: Prepackaged Software (Enterprise)||-1||CDLX|
|Technology||Technology||EDP Services (Medical)||-1||MDRX|
|Technology||Technology||EDP Services (Tech Services)||-1||DAVE|
|Retail||Consumer Non-Durables||Beverages Non-Alcoholic (Production/Distribution)||-1||FMX|
|Retail||Consumer Non-Durables||Package Goods/Cosmetics||-3||HELE, MED, USNA|
|Retail||Consumer Non-Durables||Recreational Products/Toys, Motor Vehicles||-1||VSTO|
|Retail||Consumer Services||Marine Transportation||-2||MTN, SEAS|
|Industrial||Basic Industries||Mining & Quarrying of Nonmetallic Minerals (No Fuels)||-1||LOMA|
|Industrial||Consumer Durables||Building Products||-1||SPB|
|Industrial||Basic Industries||Major Chemicals: Plastics||-1||TG|
|Industrial||Basic Industries||Major Chemicals: Others||-3||APD, SCL, WDFC|
|Industrial||Consumer Durables||Containers/Packaging||-2||SEE, SLVM|
|Industrial||Capital Goods||Wholesale Distributors||-1||GBX|
|Industrial||Consumer Services||Marine Transportation||-1||CPLP|
|Health||Health Care||Major Pharmaceuticals||-1||ARGX|
|Health||Health Care||Major Pharmaceuticals (Ethical Drugs)||-1||GRFS|
|Health||Health Care||Major Pharmaceuticals (Generic Drugs)||-1||OGN|
|Health||Health Care||Medical/Dental Instruments||-3||IART, NEOG, SNN|
|Commodities||Basic Industries||Precious Metals||-1||BVN|
|Commodities||Basic Industries||Precious Metals||-1||TECK|
|Commodities||Energy||Oil & Gas Production (Canada)||-1||CNQ|
|Commodities||Energy||Oil & Gas Production (U.S.)||-1||ESTE|
|Financial||Finance||Steel/Iron Ore||-2||BSMX, CIB|
|Financial||Finance||Major Banks (Northeast)||-1||LOB|
|Financial||Finance||Finance: Consumer Services||-2||UPST, WRLD|
|Financial||Consumer Services||Major Banks (Savings)||-1||AMRK|
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