The Gilmo Report

November 25, 2018

November 24, 2018

The market finished down for the week, the first time we’ve seen the market down during the Thanksgiving holiday week since 2011. A brief melt-up on Wednesday was met by selling, which brought the Dow Jones Industrials back to the flat line after it was up over 200 points earlier in the day. Another drop today sent the index to a lower closing low but held above its October intraday lows.

 

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The S&P 500 Index held positive on Wednesday, but not before giving up most of its gains on the day by the time the closing bell rang. To some extent, the idea that most sellers had gotten out of Dodge on Tuesday, leaving a cloud of dust behind them that could rise in the breeze on Wednesday, was accurate, but there obviously wasn’t much of a breeze.

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