The Gilmo Report

November 24, 2019

November 23, 2019

The indexes stabilized along their 10-dmas after starting the week off with some distribution off the peak. The swirling trade news flow has kept the indexes bouncing around within a short three-day range. The NASDAQ Composite Index chart below serves as an accurate proxy for all the Big-Three market indexes as it finds support along the 10-dma while volume declines.

The index trend, while running into some turbulence along the recent highs over the past three days, remains to the upside. Under the market’s surface, however, the day-to-day action in individual stocks remains mixed. The news volatility also tends to favor a more opportunistic approach, whether on the long or short sides of individual stocks.

 

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