Top 10 Report – May 13, 2020

The Indexes

The NASDAQ began yesterday’s session higher, but ultimately rolled over, sold off on heavier volume and closed near its low for the day, yet ever so slightly above 9,000.

The S&P 500 has continued to sketch out a similar pattern to the NASDAQ, although it is still lagging below its long-term 200-DMA and it’s not nearly as close to reclaiming prior all-time highs.

The small-cap Russell 2000 fell back below its 65-EMA, but is still trading above its key 50-DMA, as well as the confluence of its 21-DMA and 23-EMA, which is its next logical area of near-term support.

The DOW was rejected at its 65-EMA over the prior 3 sessions and after selling off with the other major indexes yesterday, it found support slightly below its 21-DMA and a hair above its 23-EMA.

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May 13, 2020