The Gilmo Report

May 17, 2023

May 17, 2023 5:25 pm ET

I have seen the market display some stark divergences in my day, but what we have seen recently is quite a sight to see. Money piles into long-term, established, reliable, big-cap NASDAQ 100 juggernauts not as a growth trade, to be sure, but as a type of lifeboat trade as most everything else heads lower.

As I noted over the weekend, this is embodied by the NASDAQ Advance-Decline Line ($NAAD) which remains near fresh lows even as the NASDAQ Composite allegedly begins a new bull market by virtue of its 20% rally off the October lows.

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