Top 10 Report – February 13, 2020

Market Insight

The NASDAQS&P 500 and DOW all finished yesterday’s session at new all-time highs. Meanwhile, the Russell 2000 still has some work to do to reclaim its recent high from 1/17/20, not mention, its all-time high from the end of August 2018.

The distribution count declined to 2 days on NASDAQ and 4 days S&P 500, which is on the low side and not a concern

Leading growth stocks have continued to lead the general market to new all-time highs. Fortunately, the market’s leadership remains healthy and broad, which is the single most important factor regarding the sustainability of the uptrend in the general market.

So, continue to pay close attention to how rotation takes shape and focus on the strongest names in the strongest groups, with the best fundamentals. These are the stocks you ultimately want to be concentrated in.

Keep your emotions in check, stick to your rules and your plan and wait for the perfect setup and entry to develop, or do not trade. Remember, “buying right” is your best defense.all

The Indicies

The NASDAQ has continued to defy gravity and ride up its short-term 4-EMA since it gapped up to new all time highs 7 days ago and has closed at new all-time highs for the prior 3 sessions, which is a sign of strength.

The small-cap Russell 2000 rallied with the other major indexes over the last three days and made notable progress through near-term overhead resistance, although it’s still the only index that hasn’t recovered to new all-time highs at this juncture.

The S&P 500 has continued to defy gravity and ride up its short-term 4-EMA since it broke out to new all time highs 5 days ago and has closed at new all-time highs for the prior 3 sessions, which is a sign of strength.

The DOW has continued to defy gravity and ride up its short-term 4-EMA over the last 7 days and finished yesterday’s session at a new all-time high as volume expanded, which is considered healthy and constructive action.



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February 13, 2020

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