Top 10 Report – July 20, 2020

The Indexes

The NASDAQ started off the week with some wild volatility and bearish action, but ultimately tightened up and finished the week in a constructive manner, as it consolidated its most recent gains, just slightly below recent all-time highs.

The S&P 500 tightened up in a constructive manner as it consolidated just a hair below critical resistance at 3,233.13 last week, and looks like it’s getting ready to move higher from here.

The small-cap Russell 2000 gapped up and cleared critical resistance on huge volume last Wednesday, and then spent the rest of the week trading sideways in a tight range above its long-term 200-DMA, which is constructive.

The DOW broke powerfully above critical resistance last Tuesday and then spent the rest of he week consolidating in a tight range above its long-term 200-DMA, which is now converging to the upside with the rest of its moving averages just slightly below its price, which is constructive.



More Content
July 19, 2020