The Gilmo Report

December 16, 2018

December 16, 2018
I wrote on Wednesday that I was looking for a market move to lower lows, with the caveat that in this market it was impossible to give anything a 100% certainty. But, as I’ve noted in recent reports and video reports, the indexes have at least looked like they’ve wanted to break out to the downside. On a closing basis, that is what we saw on Friday as the indexes sold off around 2%... [more]
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December 12, 2018

December 12, 2018
Insane volatility and price velocity remain the order of the day, combined with overnight futures jacks and futures declines. To get some sense of how crazy things are, leading up to today the Dow Jones Industrials Index posted end-to-end intraday swings, starting with yesterday’s move and going backwards, of 570.2, 613.44, 810.84, 708.79, and 765.01 points. The net result... [more]

December 9, 2018

December 9, 2018
This may have been the craziest market week we’ve seen in a while, but we’ve seen so much wild action since the October top that it’s getting hard to keep track of it all. All we know for sure is that the week started out with a big, news-related gap-up after President Trump and Chinese President Xi apparently came to some sort of cease-fire understanding on the ongoing trade war. That... [more]

December 5, 2018

December 5, 2018
The market has now failed on its second follow-through day since the current correction began in early October. This only adds weight to my view that follow-through days are useless contrivances in this current market environment, and ever more the reason to refrain from relying on them as green lights for piling into the market on the long side. I can almost hear the notorious character Gordon... [more]

December 2, 2018

December 2, 2018
The market continued to rally into the weekend on a higher-volume, month-end move in anticipation of something significant taking place when Chinese President Xi and President Trump meet for dinner on Saturday. The Dow Jones Industrials pushed further beyond its 200-dma, which it cleared on a follow-through type move on Wednesday, before running right into its 50-dma.   ... [more]

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