Top 10 Report – August 24, 2020

The Indexes

The NASDAQ continued to lead the way last week as it marched up its short-term 10-DMA in an orderly manner and finished at a new all-time high, which is a sign of strength and power.

The S&P 500 rose 0.34% as volume on the NYSE expanded and finally closed at a new all-time high, where it looks poised to continue higher.

The Russell 2000 continued to pull back to logical support just above its most recent prior high and the confluence of its 21-DMA and 23-EMA, which is constructive.

The DOW drifted into logical support at its most recent prior high last week, where it ultimately bounced and rallied last Thursday and then again on Friday as volume expanded, which is constructive.

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