The Gilmo Report

July 21, 2019

July 21, 2019
The Fed has now gone beyond the mere idea of monetary stimulus and is now invoking the concept of monetary “vaccination.” On Thursday, one Fedhead called for inoculating the economy against some as-yet unspecified disease with preventative interest rate cuts. In the Age of QE, just when we think we’ve seen everything, we now see the Fed expand the creative horizons of QE vernacular. The... Read More
MOST RECENT

July 17, 2019

July 17, 2019
The market  melted to all-time highs on Monday, setting up a distribution day off the peak yesterday. This resulted in another down day today, but on lighter volume. The S&P 500 and NASDAQ Composite Indexes closed below their 10-dma. That equates to two days off the peak for the S&P and the NASDAQ, and tomorrow looks to be a rough open with futures down... Read More

July 14, 2019

July 14, 2019
The major market indexes have continued to reach for new highs. The S&P 500, Dow Jones Industrials and NASDAQ Composite Index all posted new closing highs. Volume was light, however, but with the perception that the Fed is set to ease and continue easing over the next 2-3 meetings, sellers do not seem inclined to swarm the market.   ... Read More

July 10, 2019

July 10, 2019
The pullback in the NASDAQ Composite Index on Monday ended midday yesterday as the index found support at its 10-dma and closed up for the day. This morning, the release of Fed Chair Jerome Powell’s prepared remarks to Congress gave the market what it wanted, and the futures were off and running pre-open. This led to a big gap-up open that saw the S&P... Read More

July 7, 2019

July 7, 2019
An allegedly strong jobs number on Friday sent the markets into a tantrum over the possibility that its expectations of a Fed rate cut in July won’t be met. The day started off to the downside, with the S&P 500 Index dropping nearly 1%. But after a brief bout of kicking and screaming, the market found its feet and rallied off the lows on higher volume. The NASDAQ... Read More

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