The Gilmo Report

January 9, 2022

January 9, 2022 10:25 am ET

The market found a reason to pause on Thursday as the S&P 500 Index found support at its 50-day moving average. Given that many of our short-sale target names, primarily the Ponzi-Stocks, were quite oversold by Thursday morning, the bounce was logical in my view. However, it lacks vigor as even a weak jobs number on Friday, with the Bureau of Labor Statistics reporting 199,000 new jobs in December vs. estimates of 440,000, couldn’t prod buyers to show up and push the S&P past the 20-day exponential moving average.


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