Top 10 Report – May 11, 2020

The Indexes

The NASDAQ closed higher every day last week as it pushed through significant resistance and continued to lead the market higher.

The S&P 500 has sketched out a similar pattern to the NASDAQ, although it has continued to lag below its long-term 200-DMA since it followed through on 4/2 and is not nearly as close to reclaiming prior all-time highs.

The small-cap Russell 2000 reclaimed its 65-EMA on Monday, although it quickly fell back below and retested its 50-DMA and then managed to finish the week above this key moving average, which is a clear sign of strength.

TheĀ  DOW successfully retested its 50-DMA on Monday, proceeded to make higher highs for the rest of the week and closed just barely below its 65-EMA, which was just a bit behind the Russell 2000 last Friday.



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May 10, 2020