The Gilmo Report

June 6, 2018

June 6, 2018

The prior three trading days were very good for Gilmo names, as everything that wasn’t up started jacking higher, and everything that was already extended became even more extended. All this ebullience helped to drag the S&P 500 Index into breakout territory on Monday as it posted a higher high coming out of a relatively tight three-week price range.

That was followed by a higher close yesterday followed by a much stronger follow-through, but on only about even volume. Financials were a big part of the outperformance in the S&P and the Dow today. Both indexes still have some ground to cover if they intend to retake the late January highs.

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