The Gilmo Report

July 24, 2019

July 24, 2019

News has been a factor in creating market volatility this week. Word that U.S trade representatives would leave for talks in China next week got the market off its rear end and rallying sharply. After-hours yesterday, however, news again came into play when the Department of Justice announced it was beginning a review of the alleged monopolistic practices of big techs like Facebook (FB), Alphabet (GOOG), and others.

That sent the futures skidding to the downside at the open this morning, but the market rallied off the lows and the NASDAQ Composite Index posted an all-time high today on higher volume. Hopefully, this is indicative of gathering upside momentum, but the only way to participate is to simply act on the basis of the set-ups at hand. If a strong trend is at hand, that is how you put yourself in the position to get lucky.

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