The Gilmo Report

October 14, 2020

October 14, 2020 6:50 pm ET

A gap-up open on Monday has not resulted in any follow-through by the major market indexes although some are calling the NASDAQ Composite’s move on Monday a follow-through day. As you know, I have no use for such concepts, since stocks were already flashing buy signals along their lows 3-4 weeks ago as noted in these very reports.

The two-day sell-off so far has occurred on declining volume each day in the NASDAQ Composite as it holds above Monday’s gap-up rising window. Monday’s move looks near-term parabolic in a double-top type of set-up here so a deeper pullback would not be surprising.



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. ©2008-2020 Gil Morales & Company, LLC. All rights reserved.