The Gilmo Report

June 19, 2019

June 19, 2019

Excitement over Facebook’s (FB) new crypto-currency gave way to excitement over a presidential tweet regarding an “extended” meeting with Chinese President Xi at the upcoming G-20 summit. Altogether, the news sent the NASDAQ Composite Index gapping up through its 50-dma. And then came the Fed, which refrained from lowering rates today.

Some swinging about after the Fed policy announcement was seen, but overall there wasn’t a lot in the way of major fireworks today. All we have is the NASDAQ holding above its 50-dma after gapping above the line yesterday on strong volume. As long as support at the 50-dma holds, the rally remains intact.


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. ©2008-2019 Gil Morales & Company, LLC. All rights reserved.