The Gilmo Report

April 1, 2018

March 31, 2018

One trading day has passed since my last report and what has changed since then? Well, not a lot. So, in the interests of invoking some variety and perhaps a change of perspective, here’s an interesting candlestick chart of the NYSE Composite Index. This comes from HGS Investor Software and was created by my old friend and sub-mentor Ian Woodward.

This is an interesting chart to look at, and there is no shortage of indicators overlaying this thing, but then Ian was the master of overlaying indicators. His “rainbow” charts are works of art in this regard. So, here we are looking at the NYSE Composite, which doesn’t look a whole lot different from the narrower S&P 500 Index as it flops around its 200-dma. The S&P hasn’t yet dropped below the 200-dma, but note that the NYSE Composite has, closing below the line three times over the past five trading days.

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