The Gilmo Report

June 24, 2020

June 24, 2020 6:51 pm ET

The NASDAQ Composite and NASDAQ 100 Indexes, led by the biggest NASDAQ 100 stocks, both started the week off by decisively clearing their respective 10,000 levels. The five big-stock NASDAQ names that I have referred to as the Fantastic Five now account for nearly a 50% weighting in the NASDAQ 100.

This of course doesn’t become a problem until it, well, becomes a problem. And it became a problem today as the major market indexes swooned to the downside. The NASDAQ Composite broke 2.03% to the downside but held at its 10-dma on lighter volume vs. yesterday but still well above average.

 

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