Top 10 Report November 20, 2019

Market Insight

The major market indexes are in great shape overall. The NASDAQ, S&P 500 and DOW have made new all-time highs for the last 3 consecutive sessions. Meanwhile, the small-cap Russell 2000 has been tightening up above logical support and looks ready to break higher from here.

More importantly, a broad base of leading growth stocks have continued to form constructive bases, breakout on heavy volume and make worthwhile progress higher. This is by far, the single most important factor when it comes to the sustainability of a general market uptrend.

Over the last couple days we’ve continued to see constructive, powerful action among the same leading sectors and industry groups we discussed in the last report. These were the technology, medical/biotech, retail, building, financial and transportation sectors.

Continue to keep track of the strongest stocks in the strongest groups, with superior fundamentals. Set your alerts and be ready to buy these stocks as entry areas present themselves.

NOTE: Earnings season is winding down, however, it’s still important to check and double check when a stock is due to report EPS before initiating a position. These dates change, and often at the last minute.

The Indicies

The NASDAQ finished the last 3 consecutive sessions at new all-time highs as it continued to ride up its short-term 4-EMA and 10-DMA, which is a sign of strength.

The Russell 2000 continues to hold up and trade sideways in a tight range above significant support, and is looking ready to follow the other major indexes to new all-time highs.

The S&P 500 has made new all-time highs over the prior 3 sessions as it continued to ride up its short-term 4-EMA and 10-DMA, which is a sign of strength.

The DOW has made new all-time highs over the prior 3 sessions as it continued to ride up its short-term 4-EMA and 10-DMA, which is a sign of strength.



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November 19, 2019

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