Top 10 Report – June 24, 2020

The Indexes

The NASDAQ gapped up to new all-time highs and rallied until about 2:00 PM yesterday, at which point it reversed, sold off into the end of the day as volume expanded and closed below mid-range which is less than ideal, but not all that surprising after 8 up-days in a row.

The S&P 500 gapped up at the open and rallied until about 2:00 PM yesterday, at which point it reversed, sold off into the end of the day and closed below mid-range, although volume declined on the NYSE, so further distribution was avoided.

The Russell 2000 gapped up at the open, put in its high for the day shortly thereafter, then rolled over, sold off into the close and finished near session lows, although volume declined and it held up above its 10 and 21-DMA’s, which is a positive.

The DOW gapped up at the open and moved sideways until about 3:30 PM yesterday. It then rolled over, sold off into the close and finished near its low for the day, although volume declined and it held up above its 10 and 21-DMA’s, which is a positive.



More Content
June 24, 2020