Top 10 Report – September 2, 2020

The Indexes

The NASDAQ continued its almost vertical march to new all-time highs so far this week. Volume rose Monday, while it declined Tuesday, although it remained well below average which is typical of this time of year.

The S&P 500 fell a scant 0.22% on heavier volume Monday, which technically added a distribution day to its count, although not a very convincing one. Not to mention, it rallied 0.75% yesterday and closed an a new all-time high, despite lighter volume.

The Russell 2000 has continued to hold up in a constructive manner just above its most recent prior high and its 23-EMA so far this week, and is looking poised to move higher from here.

The DOW has continued to make slow, steady progress back towards its prior all-time high over the last several weeks and is now holding up in a constructive manner, just slightly above its 10-DMA and a hair below its most recent high.

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