The Gilmo Report

April 5, 2020

April 5, 2020
The major market indexes rolled lower on Friday to finish out a down week. All the Big Three major market indexes closed just under their 10-day moving averages, as the daily chart of the NASDAQ Composite Index illustrates. Intraday volatility remains high as the indexes all correlate closely and remain in a roughly three-week bear flag following an initial and brutal leg down off... Read More
MOST RECENT

April 1, 2020

April 1, 2020
The bear market rally off the lows of nearly two weeks ago ran into some April Fool’s Day selling today. The NASDAQ Composite Index, like the S&P 500 and the Dow, finally peeled away from its 20-dema to the downside as selling volume picked up yesterday. Today a gap-down open carried the index below its 10-dma on lighter volume.   ... Read More

March 29, 2020

March 29, 2020
Technically, the indexes are still holding up in an oversold rally, but intraday volatility remains high. In my view, the fat part of the shorting game that began in late February has come and gone. We are therefore left in an environment where nimble swing traders and day traders are left trying to play the volatility if they can. As the daily chart of the NASDAQ Composite Index... Read More

March 25, 2020

March 25, 2020
The market remains within the confines of a bear trend but is currently attempting its first real oversold rally since beginning its record-breaking crash in late February. I blogged Monday afternoon that I was starting to see some evidence of a potential reaction move off the lows, but I still didn’t view this as anything more than a bear market rally. So far, the real-time evidence favors this... Read More

March 22, 2020

March 22, 2020
The Crash of 2020 persists, as the NASDAQ Composite Index has done little more than form a short bear flag over the past week against a daily backdrop of tremendous intraday volatility. In the meantime, all we have seen so far are brief, oversold rallies, otherwise known as one-day wonder rallies. Some might prefer to use the phrase dead cat bounces (DCBs, for short).   ... Read More

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