August 12, 2020
Selling in clouds and other tech leaders helped to take the NASDAQ Composite Index down three days in a row, with distribution days on Friday and then again yesterday. In this market, however, three days down means only one thing, and that is a big gap-up open this morning as the index pushed back above the 11,000 level.
The about-face rally today occurred on much lighter... Read More
August 9, 2020
The NASDAQ Composite Index decisively cleared the 11,000 level on Thursday as money continues to pile into big-stock NASDAQ 100 names. Collectively, the Fantastic Five, which consists of Apple (AAPL), Amazon.com (AMZN), Facebook (FB), Alphabet (GOOG), and Microsoft (MSFT), accounts... Read More
August 5, 2020
The NASDAQ Composite Index led by big-stock NASDAQ 100 Index names kissed all-time high price ground just above 11,000 today. It closed today at 10998.40 after trading in a tight price range on higher volume. The NYSE-based indexes, the S&P 500 and the Dow, not shown, both made higher highs since rallying off the March lows... Read More
August 2, 2020
All four big-stock NASDAQ names, Apple (AAPL), Amazon.com (AMZN), Facebook (FB), and Alphabet (GOOG), that reported Thursday after the close beat estimates. That led to gap-up opens Friday morning in all but GOOG, which gapped down and headed for its 50-dma.
The group chart below shows AAPL, AMZN, and FB gapping up to prior... Read More
July 29, 2020
The market has spent the past three days crawling up off the lows of late last week following a two-day sell-off. The NASDAQ Composite Index edged back up to regain its 20-dema heading into today’s Fed policy announcement and a predictably dovish Fed statement kept the rally going.
The index led all other major market indexes today with a 1.35% gain. It closed just below... Read More