Top 10 Report – May 6, 2020

The Indexes

The NASDAQ has continued to make constructive progress above key support since it followed through on 4/6 and is still clearly the strongest major index of the bunch.

The S&P 500 has sketched out a similar pattern to the NASDAQ, although not nearly as powerfully, as it has yet to reclaim its long-term 200-DMA since it followed through on 4/2.

The small-cap Russell 2000 reclaimed its 50-DMA on Monday, but continues to to struggle much further below its 200-DMA than the NASDAQ or S&P 500.

TheĀ DOW is only in slightly better shape than the Russell 2000, insomuch as it has managed to hold above its 50-DMA since it reclaimed it on 4/27, although it continues to struggle well below its long-term 200-DMA as well.

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May 6, 2020