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Daily stock market update July 19, 2021 - Market downtrend

July 20, 2021
MCBOSS CAPITAL
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market update

How is stock market today?

Market start the week continuing their recent downtrend.

The following is tracking the current pullback and correction for the indices.

Nasdaq	-4.41%
S&P 500	-3.79%
Dow Jones	-4.00%
Russell 2000	-11.54%

What is the current support level?

Nasdaq gap down below its 21 days moving average.

S&P 500 gap down below its 21 days moving average and close near its 50 days moving average. This is a bearish sign.

Dow Jones fell hard below its 50 days moving average. This is a bearish sign.

Russell 2000 fell further below its 50 days moving average and maybe heading to its 200 days moving average. This index is deteriorating.

NASDAQ - above its 50 days moving average line near 14000; current at 14274
S&P 500 - above its 50 days moving average line near 4200; current at 4258
DJIA - below its 50 days moving average line near 34400; current at 33962
RUSSELL 2000 - below its 50 days moving average line near 2240; current at 2130

Psychological levels

Nasdaq is above 14000.
S&P 500 is now below 4300.
Dow Jones Industrial Average is now above 34000.
Small cap Russell 2000 is now below 2200.

Which industry groups show strength?

There are no groups showing accumulation. This is a bearish sign.

Which industry groups from recent strength show weakness today?

Sector	Industry	Sub-group	#	Stocks
Below 50 days moving average
Retail	Consumer Services	Clothing/Shoe/Accessory Stores	-9	ANF, BURL, CATO, CHS, CTRN, GES, PLCE, TJX, ZUMZ

Below 50 days moving average
Industrial	Capital Goods	Electrical Products	-2	CGNX, IPGP

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.