The Gilmo Report

February 27, 2019

February 27, 2019

The NASDAQ Composite Index has closed higher for nine-straight weeks before running into two days of selling to start this week. The last time the NASDAQ had a streak like this was in the middle of 2016, when it ran up for eight-straight weeks. It then went sideways for the next eight weeks before breaking out and moving higher again.

The selling perhaps has been in response to the U.S.-China trade talks, which essentially concluded for now with one single area of “progress.” That would be that the U.S. has agreed to push back the March 1st deadline for raising existing tariffs on China from 10% to 25%. So, if the trade talks are going as well as the Trump Administration likes to hype it, then on a concrete basis they seem to be going better for China.

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