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.

 

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