Top 10 Report – July 13, 2020

The Indexes

The NASDAQ hasn’t missed a beat since Tuesday’s negative reversal, closing higher for the last three consecutive days and finishing the week ant a new all-time high, however, volume tapered as it stretched above its short-term 10-DMA which leaves it vulnerable to a pullback from here.

The S&P 500 has traded sideways in a constructive manner above its moving averages as they’ve continued to converge to the upside beneath its price, which often precedes a move to the upside.

The Russell 2000 has drifted constructively towards the confluence of its 50-DMA and 65-EMA, which have converged to the upside immediately below its price and currently provide a significant area of support for this small-cap index.

The DOW has been slowly tightening up as it moves sideways between critical support at the confluence of its 50-DMA and 65-DMA, and significant resistance immediately above at its long-term 200-DMA and continues to look constructive.



More Content
July 12, 2020