The Gilmo Report

February 17, 2019

February 17, 2019

More trade hype from the Trump Administration on Friday as it hailed an agreement on an alleged Memorandum of Understanding between the U.S. and China on trade sent the market higher again. This time, the NASDAQ Composite Index finally cleared its 200-dma, thanks to a burst of late-day buying. It now joins the other two Big-Three major market indexes above its 200-dma.

Despite the strength, there was a noticeable absence of participation by several big-stock NASDAQ names. Apple (AAPL), (AMZN), Alphabet (GOOG), Facebook (FB), and Netflix (NFLX) all sold off on Friday as the NASDAQ 100 Index lagged noticeably.


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