The Gilmo Report

April 11, 2021

April 11, 2021
Major market indexes continue to melt higher as the NASDAQ Composite and S&P 500 Indexes pushed to higher highs on light volume. The action strikes me as a classic melt-up type of move as the indexes have risen on a continuous stream of light volume over the past 6-7 days. In the process the S&P posted an all-time high on Friday as the NASDAQ now comes within... Read More
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April 7, 2021

April 7, 2021
Money has spent the week so far piling back into big-stock NASDAQ and other tech/growth names, a move that began in late last week. The infamous S&P Five, Apple (AAPL), Amazon.com (AMZN), Facebook (FB), Alphabet (GOOG), and Microsoft (MSFT) have all found favor as of late, with FB, GOOG, and MSFT breaking out... Read More

April 4, 2021

April 4, 2021
The S&P 500 cleared the 4,000 level on Thursday for the first time in history, while the NASDAQ Composite regained its 50-day moving average after gapping up and holding in a tight range all day. The NASDAQ’s move was fueled by broad strength in semiconductors following Micron Technology’s (MU)... Read More

March 31, 2021

March 31, 2021
A new trading week brought more twists and more turns, as revelations that the heavy liquidation of certain stocks, including media names like ViacomCBS (VIAC) and Discovery (DISCA), along with the likes of Tencent Music Holdings (TME) and Farfetch Ltd. (FTCH), were the result of the forced de-leveraging of a hedge fund, Archegos... Read More

March 28, 2021

March 28, 2021
The twists and turns in this market get stranger by the day. On Friday, the market looked like it was headed for a big reversal as it approached the last hour of the trading session. Ten minutes ahead of the final hour the indexes broke to lower intraday lows and then suddenly reversed course, streaking to fresh highs in in a wild late-day surge. After getting short-term oversold on Thursday... Read More

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