The Big Three major market indexes have continued to grind higher as they lean against muted hopes of a Phase One U.S.-China trade deal. The NASDAQ Composite Index looks like both the S&P and the Dow as it huffs and puffs its way higher over the past several trading days, but did not post a new closing high as the other two of its Big Three brethren did today.
The slow grind higher in the indexes has been accompanied by a mix of action among individual stocks. Dynamic leadership is nowhere to be found, which continues to make the situation difficult for growth-stock investors. Despite new highs in the indexes, this does not strike me as a big-money market, at least not yet, and the best high-velocity, high time-value moves tend to come after earnings reports.
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
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.