The Gilmo Report

June 25, 2017

June 25, 2017
This remains a “Market in LUie Land” as the recoveries in techs and other names that were beaten to a pulp on June 9th continue.  All of these recoveries are occurring as L-shaped “bear flags” morph into U-shape “LUie” formations in defiance of conventional technical analysis. If this were all new to me I might be amazed at the sight of these LUie-type moves. But I myself... [more]
MOST RECENT

June 21, 2017

June 21, 2017
The market has taken on this random flavor where it seems to be moving in one direction and then suddenly shifts in not quite the blink of an eye. The most glaring example of this was the action two Fridays ago, on June 9th when the tech sector was beaming higher early in the day before reversing course in a brutal sell-off. Since then, the indexes have been attempting to stabilize... [more]

June 18, 2017

June 18, 2017
Coming in Thursday morning, holding cash or short positions was the place to be as the indexes gapped down sharply at the open. Based on the gap-down open, the indexes looked set to split wide open. But in its typical Ugly Duckling style, the market belied expectations and turned off the lows for a less than disastrous outcome by the close. The NASDAQ Composite Index found... [more]

June 14, 2017

June 14, 2017
Things got quite oversold Monday morning as the indexes opened lower amidst continued heavy selling in the tech sector. I tweeted early in the day that an oversold bounce was becoming more likely. At the time, this was showing up on the 5-minute “620” intraday charts in the form of MACD “stretch & cross” types of moves. That’s the first thing I look for when things start to... [more]

June 11, 2017

June 11, 2017
Friday will go down as one of the strangest market days I’ve seen in a long time, if not ever. Around mid-day the NASDAQ Composite Index broke hard to the downside as leading stocks got pummeled. At the same time, the NASDAQ advance/decline numbers were still roughly 2 to 1 positive. Meanwhile, the Dow Jones Industrials and the S&P 500 Index... [more]

view all Gilmo Reports