The Gilmo Report

November 14, 2021

November 14, 2021 12:25 pm ET

It’s been a bit of a mix ‘n match kind of market this past week as there have been numerous and various actionable moves, some quite sharp, in individual stocks both up and down. This perhaps reflects the choppiness of the two-day sell-off from the peak that started on Tuesday that has been followed by a melt-up type of bounce where the indexes have now chopped their way back above their respective 10-day moving averages.

The NASDAQ Composite Index pulled a decent 1% upside move Friday, a move that was mostly helped along by big-stock NASDAQ names. The NASDAQ 100 Index in fact led all comers with a 1.04% upside move. The net result is that the Composite has now regained its 10-day moving average on expanded volume following the sell-off earlier in the week on inflation news.

 

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