The Gilmo Report

January 28, 2018

January 28, 2018

As the Dow Jones Industrials Index pushes to within 1.5% of the 27,000 price level, the NASDAQ Composite Index passed another Century Mark on Friday, closing above 7,500 for the first time in history on higher volume. The steepening uptrend that began on January 2nd has continued unabated, and while the market looks like it has gone the proverbial “too far too fast,” it hasn’t gone parabolic just yet.

 

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The S&P 500 Index is within 4% of the 3,000 price level after making yet another new high on Friday on lighter volume. It may be an old story by now, but the market remains in an uptrend as it shakes off any selling and just keeps rolling back to the upside.

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