The Gilmo Report

February 21, 2021

February 21, 2021 3:39 am ET

The major market indexes appear to be wobbling a bit at their highs. Both the NASDAQ Composite and S&P 500 Indexes gave up on early rallies back above their 10-day moving averages on Friday as volume increased vs. the prior day. This is occurring as we see weakness in some areas of the market while others remain more resilient. Whether the market action is indicative of developing overall market weakness or rotation is not necessarily clear cut, however.

 

 

The only way to stay in sync, regardless of the action on the surface of the market, is to focus on the individual stock set-ups. But some of these are showing a tendency to shift and change very quickly. Stocks may still find headwinds in the fact that interest rates continue to rise, as the 10-year Treasury Yield ended the week at 1.345%, a large relative increase from its 0.398% low of last March.

The rest of this report is available for Gilmo Report Members only.
The full report will be available 45 days after it is posted. For immediate access: login or subscribe

Gil Morales & Company, LLC (“GMC”), 8033 Sunset Boulevard, Suite 830, Los Angeles, California, 90046. GMC is a Registered Investment Adviser. This information is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to GMC, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Gil Morales & Company, LLC. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2008-2020 Gil Morales & Company, LLC. All rights reserved.