The Gilmo Report

September 20, 2017

September 20, 2017
The Fed came out today and did nothing about interest rates, leaving them unchanged. What was different about today’s policy announcement was their reiteration that they remain on track to begin paring back their $4.5 trillion balance sheet in October. The market thought about this for a little while, and then began to sell off hard, with the big-stock NASDAQ names leading the way down. But... [more]
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September 17, 2017

September 17, 2017
The indexes keep stepping higher as they march to the tune of the QE band currently comprised of the Fed, the European Central Bank, the Bank of Japan, and others. At times the tune gets a little funky as it did on Thursday when the big-stock NASDAQ 100 Index names took a heavy dose of selling, but on lighter volume. It looks very much like the NASDAQ Composite Index,... [more]

September 13, 2017

September 13, 2017
On Sunday afternoon, the futures opened to the upside and continued rallying into the evening right into Monday morning. What made it interesting to watch was the fact that the movement in the futures seemed inversely synced to the dwindling power of Hurricane Irma as it made landfall along the southern Florida coast. What started out as a Category 5, or “CAT 5” storm, slowly began dropping... [more]

September 10, 2017

September 10, 2017
Friday’s action had an odd odor to it, as the NASDAQ 100 and NASDAQ Composite Indexes were both hit with selling on lighter volume. The big-stock NASDAQ names, however, took the brunt of it as the NASDAQ 100 tanked -0.85% on the day. Meanwhile, in an interesting divergence, the S&P 500 and Dow Jones Industrials Indexes closed... [more]

September 6, 2017

September 6, 2017
Another NoKo surprise hit the markets yesterday after the rogue dictatorship went and tested an alleged hydrogen bomb, sending futures down slightly over the long weekend. That led to a sharp sell-off yesterday, but one that is consistent with the pattern of breaks off the peak when the market rallies up near or to new highs. The NASDAQ Composite Index was smacked all the... [more]

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