The Gilmo Report

February 18, 2018

February 18, 2018
After six straight up days coming right up from the lows of two Fridays ago, the NASDAQ Composite Index finally backed down on light volume Friday. At this stage we now want to see if and how it consolidates the prior reaction rally. This could occur on a pullback to and test of the 50-dma, or the index could simply hold tight sideways as the 50-dma catches up. Other alternatives,... [more]
MOST RECENT

February 14, 2018

February 14, 2018
Stronger than expected inflation numbers this morning sent the indexes trading down hard at the open. But the selling quickly subsided and the indexes began moving back to the upside. The NASDAQ Composite Index led the rally as it pushed past its 50-dma to post a surprising fourth-day follow-through coming straight up from the lows.   ... [more]

February 11, 2018

February 11, 2018
I don’t think I need to point out what everyone already knows, which is that this past week was one of wild and wooly volatility with plenty of mystery and intrigue on the side. The implosion of the short-VIX funds to more threats of a government shutdown to the wild 1,000 Dow point intraday swings made for one of the more interesting weeks we’ve seen in a while. We might even consider that... [more]

February 7, 2018

February 7, 2018
All hell broke loose on Monday as the Dow slid to nearly -1,600 points lower on an intraday basis before closing down over 1,000 in the worst point decline in its history. The sell-off had the feel of panic, at least in the short-term, but at that point the indexes were only down about 7-8% below their recent peaks. That qualifies as an intermediate correction, and on Friday the indexes undercut... [more]

February 4, 2018

February 4, 2018
Investors were finally provided a reminder of what a decent sell-off is like as leaders across the board were raked with heavy selling volume on Friday. NYSE breadth was about as ugly as it gets with decliners leading advancers by a whopping 2747 to 304. The volatile intraday action we saw earlier in the week looked cautionary, as I noted in Wednesday’s report, and we saw that funky action come... [more]

view all Gilmo Reports