The Gilmo Report

July 15, 2020

July 15, 2020 6:43 pm ET

The NASDAQ Composite Index started the week off with what was an undeniably ugly outside reversal off the intraday peak. The next day, yesterday morning, the market looked primed to take a bath again but found its feet and rallied to close up on the day. This morning a huge gap-up open turned into a big washing-machine session as the indexes shifted to and fro all day.

By the time the dust settled, the NASDAQ Composite ended the day just below where it started, up 0.59% on higher volume. Overall, just a big churning day as the index found support at the 10-dma. Meanwhile, the NASDAQ 100 Index lagged in divergence, up just 0.11% as money continued to come out of techs.

 

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