The Gilmo Report

March 26, 2017

March 26, 2017
After undercutting their prior February and March lows on Wednesday, setting up a logical undercut & rally situation, the indexes continued to move higher into Friday morning. This was associated with a large number of similar types of undercut & rally moves in individual stocks, something I discussed in detail in my mid-week report of that day. That Friday morning rally ended within... [more]
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March 22, 2017

March 22, 2017
The Icarus Rally finally felt the effects of getting too close to the sun yesterday with all the major indexes melting down over 1% across the board. For those keeping count, this was the first time in 110 days that we’ve seen a market pullback of 1% or more, and heavy selling volume didn’t disappoint in this regard. Last week’s breakdown in financials was likely a harbinger of this... [more]

March 19, 2017

March 19, 2017
Financial stocks have been a bulwark of the market rally that began after the election. The Fed’s indication of more rate hikes to come caused many market pundits to begin forecasting three more rate hikes this year and then another 3-4 next year, financials don’t seem to agree. While the Fed’s actions and words on Wednesday seemed to indicate a hawkish stance, the financials don’t... [more]

March 15, 2017

March 15, 2017
The 91% probability of the Fed raising rates today went to 100% as this elite group of “anointed” individuals deemed fit to wield their omniscience over the U.S. monetary policy raised rates by a quarter point. This sent the indexes into their usual gyrations, but mostly to the upside. By the time the dust had settled, the S&P 500 Index had completed a little trendline... [more]

March 12, 2017

March 12, 2017
The market has slipped into a choppy, sloppy affair as the indexes sway back and forth. Meanwhile, the action in individual stocks continues to present investors with little in the way of meaningfully profitable set-ups, although there is the occasional upside surge among some of the names on my long watch list, as we will see later in this report. The S&P 500 Index acts... [more]

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