The Gilmo Report

May 20, 2018

May 20, 2018
The market spent the week consolidating the prior move off the early May lows. After a Monday gap-up attributable to a Presidential Tweet, the market pulled in and spent the remaining four days of the week in a tight sideways range. The S&P 500 Index, along with the rest of the market, traded in a tight range on Friday as volume expanded, thanks to options expiration.   ... [more]
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May 16, 2018

May 16, 2018
The upside extension we were seeing in many leading stocks coming into the weekend finally ran into some logical selling yesterday. The catalyst for the market decline was allegedly higher interest rates, as the 10-year Treasury Note yield set a four-year high at 3.082% In addition, the Two-Year Treasury Note yield pushed up to 2.58%, its highest close since July 2008. Interest rate fears... [more]

May 13, 2018

May 13, 2018
Friday was an uneventful day for the indexes after they posted higher highs on Thursday. The NASDAQ Composite Index held in a tight range as volume declined, which looks constructive as an orderly one-day consolidation after five-straight days of upside since clearing its 50-dma. The index is now extended from the 50-dma and looking, at least for now, like it has its eyes set on... [more]

May 9, 2018

May 9, 2018
The 50-day moving average has been the parallel bar around which the major indexes are spinning, but today we saw oil stocks help to power the S&P 500 Index through its 50-dma. As I indicated in last night’s video report, this would be constructive as the S&P now joins the NASDAQ Composite Index, which regained its 50-dma last week.   ... [more]

May 6, 2018

May 6, 2018
News that iconic value investor Warren Buffett bought 75 million more shares of Apple (AAPL) sent the stock and the market pushing higher on Friday. This came on the heels of a big shakeout and reversal as the S&P 500 Index broke below its 200-dma, bringing on the consternation of market pundits who... [more]

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