Another New High?
The S&P is closing in on the old highs. The 50-day moving average did provide support last week, but the volume on the up move has been below average. However, the RSI is not above the middle line which is a good sign of possible momentum. What does all of this mean for investors? We have a strong market that needs to pull back before trying to break out to new highs.
John N. Lilly III
Portfolio Manager, Windsor Wealth
The S&P 500 is an unmanaged index of 500 widely held stocks. Past performance may not be indicative of future
results. It is not possible to invest directly in an index. Opinions expressed are those of the author John N. Lilly III, and not necessarily those of Raymond James. The information contained was received from sources believed to be reliable, but accuracy is not guaranteed. Investing always involves risk and you may incur a profit or loss. No investment strategy can guarantee success. The charts and/or tables presented herein are for illustrative purposes only and should not be considered as the sole basis for your investment decision.