Headline News: U.S. stock futures are trading flat after General Electric (GE) announced it would be splitting into three separate companies. Futures moved off the lows after the release of the October producer price index came in as expected. The PPI rose 0.6% month over month and was 8.6% year over year. One-third of the increase in goods prices came from a rise in gasoline prices, and on the goods and service side, 80% of the increase in final demand services came from auto and parts. The Labor Department will release the October consumer price index report tomorrow. Markets: The S&P closed at another new all-time at 4701.70 on lower volume at 2,205,445,888. We believe this is the start of a base to consolidate the recent gains off the 10/4/2021 low of 4278.94. However, we also think the base may not last long as markets are in the traditional strongest time of the year. The RSI index remains in the overbought zone closing at 76.71, and today should be another lower close with a small trading range. We are currently Intermediate-term bullish and short-term bullish. John N. Lilly III CPFA Accredited Portfolio Management Advisor℠ Asset Management Specialist℠ Portfolio Manager, RJFS… Read More
Headline News: Wall Street is set for a higher open after the $1 trillion infrastructure bill was passed on Saturday. Industrial companies Catepillar Inc (CAT), Boeing (BA), and 3M were all higher in pre-market trading. Meanwhile, with nearly 90% of companies in the S&P 500 index having reported results, Refinitiv IBES expects overall earnings to have grown 41.5% for the third quarter. Markets: The S&P 500 closed at another new all-time high on Friday, closing at 4697.53. The advance/decline line and the net new high index are also in uptrends supporting the recent high. However, the index was trading higher early in the day until selling came in and pushed the index lower. We feel the selling that came in can potentially continue due to the volume coming in well above average at 2,597,537,792. We think potential resistance could come in at 4663.46, and the new possible resistance at 4718.50 will be hard to take out after the rally to these lofty levels. We are currently Intermediate-term bullish and short-term bullish. John N. Lilly III CPFA Accredited Portfolio Management Advisor℠ Accredited Asset Management Specialist℠ Portfolio Manager, RJFS Partner, DJWMG Windsor Wealth Planners & Strategist Futures trading is speculative, leveraged, and… Read More
Headline News: The S&P 500 is set for a higher open after October’s better-than-expected jobs report came out this morning. The Labor Department reported nonfarm payrolls at 531,000 and an unemployment rate of 4.6%. Private payrolls also came in better than expected at 604,000 for October. Also, the wages increased 0.4% for the month and 4.9% year over year, showing that inflationary pressures have increased. Markets: The S&P 500 rallied to close at yet another new all-time high at4680.06 on Thursday. The RSI index remains in the overbought zone closing at 45.04. So, the uptrend remains in place, and today should be higher with a better than expected jobs report out this morning. The bulls are very much in control for now, and we feel it is best not to go against the trend. We are currently Intermediate-term bullish and short-term bullish. John N. Lilly III CPFA Accredited Portfolio Management Advisor℠ Accredited Asset Management Specialist℠ Portfolio Manager, RJFS Partner, DJWMG Windsor Wealth Planners & Strategist Futures trading is speculative, leveraged, and involves substantial risks. Investing always involves risk, including the loss of principal, and futures trading could present additional risk based on underlying commodities investments. The Relative Strength Index… Read More
Headline News: U.S. stock futures are higher after another round of upbeat third-quarter earnings reports. Shares of Qualcomm (QCOM) were higher by 7% after reporting an increase of 56% in smartphone chip sales, and MGM (MGM) was higher by 5% after announcing the sale of its Mirage casino in Las Vegas to another vendor. Also, yesterday the Federal Reserve announced a $15 million monthly slowdown in bond buying, and signaling the U.S. economy can handle the unwinding of the pandemic stimulus. Meanwhile, initial claims for unemployment benefits fell 14,000 to a seasonally adjusted 269,000 for the week ended October 30th. Markets: The S&P 500 closed at another new all-time high at 4660.57 on Wednesday. The advance/decline line and the net new high index’s also closed at new highs for the year, supporting the uptrend. The RSI index moved further into the overbought zone closing at 73.47, but traders are not worried about the negatives are this time. As we have said before, the best approach now is to ride the uptrend but be cautious and on alert for the inevitable pullback that will come. We are currently Intermediate-term bullish and short-term bullish. John N. Lilly III CPFA Accredited Portfolio Management… Read More
Headline News: Wall Street is set to open lower as investors await a decision from the Federal Reserve on a potential slowdown of the current bond-buying program. Also, there could be clues as to when the Fed will possibly raise interest rates. Inflation has seen prices increase at the fastest pace in 30 years, and investors will want to know how the Fed will act to slow the increases. Markets: Another day, another new all-time high for the S&P 500. The index closed at 4630.65 on volume of 2,140,098,048 and has now closed higher 13 times out of the last 15 trading sessions. The RSI index moved into the overbought zone closing at 70.68, and typically selling comes in at that level. This morning the S&P 500 is set to open lower, and we expect low volume until the Fed announcement at 2:00 p.m. Potential support could come in at 4598.53, and possible resistance is now at 4635.15. We are currently Intermediate-term bullish and short-term bullish. John N. Lilly III CPFA Accredited Portfolio Management Advisor℠ Accredited Asset Management Specialist℠ Portfolio Manager, RJFS Partner, DJWMG Windsor Wealth Planners & Strategist Futures trading is speculative, leveraged, and involves substantial risks.… Read More
Headline News: Wall Street is set for a flat open as investors await the end of the Federals Reserves two-day meeting on Wednesday. Also, more corporate earnings will be coming this week, and so far, 55.8% of S&P 500 companies have reported, and 82% have beaten earnings estimates, according to FactSet. Markets: The S&P 500 closed at a new all-time high of 4613.67 to continue the impressive uptrend. Volume came in at 2,025,679,104, and 81% of that was up volume. Small Caps lead the way with a 2.65% advance in the Russell 2000 index, which shows the rally is expanded into other areas of the U.S. market. The advance/decline line finally also moved to a new high, supporting the day’s rally. So, we feel the market can potentially continue to move higher from here with some minor pullbacks along the way. We are currently Intermediate-term bullish and short-term bullish. John N. Lilly III CPFA Accredited Portfolio Management Advisor℠ Accredited Asset Management Specialist℠ Portfolio Manager, RJFS Partner, DJWMG Windsor Wealth Planners & Strategist Futures trading is speculative, leveraged, and involves substantial risks. Investing always involves risk, including the loss of principal, and futures trading could present additional risk based… Read More
Headline News: U.S. stock futures are set to open higher as investors appear to be betting on a year-end rally to start November. Shares of Tesla (TSLA) were up 1% in pre-market trading after becoming a $1 trillion company last week. Later this week, the Federal Reserve will hold a two-day meeting and is expected to begin tapering its $120 billion in monthly bond purchases. Also, on Friday, the October job report will be released and could potentially show the health of the U.S. job market. Markets: The S&P 500 closed at another new all-time high of 4605.38 with volume of 2,343,990,016 on Friday. The RSI index closed at 68.49, just under the overbought level, and the advance/decline line did not make a new high. At this point, the index wants to go higher, and we believe it best to go with the current uptrend. So far this morning, the index is set to, possibly, open higher at 4611.00, and we could see money on the sidelines come due to fear of missing out on the upside move. We are currently Intermediate-term bullish and short-term bullish. John N. Lilly III CPFA Accredited Portfolio Management Advisor℠ Accredited Asset Management Specialist℠ Portfolio… Read More
Headline News: Wall Street is set for a lower open after third-quarter results from Apple (AAPL) and Amazon (AMZN) renewed new fears of labor and supply shortages. Apple (APPL) was lower by 3.5% in pre-market trading after warning that disruptions will worsen for the holiday sales quarter. Amazon (AMZN) was lower by 4.8% after they forecast lower holiday-quarter sales. Also, Starbucks Corp was lower by 4.7% (SBUX) after announcing fiscal 2022 operating margins to be 17% below its long-term target. Markets: The S&P 500 closed at another new all-time high at 4596.42 on above-average volume at 2,175,478,784. However, the advance/decline line did not make a new high and is now negatively divergent. In pre-market trading, the index is set to open lower below potential support at 4572.62. If so, we feel the next level of possible support will hold at 4545.85 due to traders missing out on the recent rally and setting up a new trading range of 4598.53-4545.85. We are currently Intermediate-term bullish and short-term bullish. John N. Lilly III CPFA Accredited Portfolio Management Advisor℠ Accredited Asset Management Specialist℠ Portfolio Manager, RJFS Partner, DJWMG Windsor Wealth Planners & Strategist Futures trading is speculative, leveraged, and involves substantial risks.… Read More
Headline News: Wall Street is set to open higher after Ford (F) reported earnings that nearly doubled expectations, and the company increased annual guidance for the second time this year. The news shows that consumers are still willing to purchase big-ticket items despite rising inflation. However, third-quarter GDP came in 2.0%, below the expectations of 2.8%, and the slowest gain since the second quarter of 2020. Later today, Amazon (AMZN) and Apple will report, and both reports could be market movers. Markets: The S&P 500 sold off heavy closing at 4551.68 and just above potential support at 4545.85. Volume came in above average, with 2,245,939,200 shares traded. We feel the selling will potentially continue, and possible support at 4524.40 could be tested soon. If so, the elusive base we have been hoping for could form and allow the index some rest after the recent explosive uptrend. The advance/decline line and the net new high index both broke their uptrend showing that the selling was broad-based. We are currently Intermediate-term bullish and short-term bullish. John N. Lilly III CPFA Accredited Portfolio Management Advisor℠ Accredited Asset Management Specialist℠ Portfolio Manager, RJFS Partner, DJWMG Windsor Wealth Planners & Strategist Futures trading is… Read More
Headline News: Wall Street is set for a higher open after better than expected earnings from large technology companies. Microsoft (MSFT) was up 2.1% in pre-market trading after forecasting a strong end to the calendar year. Alphabet (GOOGL) was lower by 0.6% after reporting record quarterly profits for the third quarter. Also, Coca-Cola rose 2.6% after beating estimates on the top and bottom line, and Boeing’s (BA) revenues were up 8% for the third quarter. Markets: The S&P 500 closed higher at 4574.79, another new all-time high, after trading at 4598.53 mid-day. The selling that came in at the day’s high could now act as solid resistance going forward, and we don’t feel that level will be tested soon. So, the index remains extended and overbought, and the question becomes who is left to buy at these levels. Also, another question is, now that the large tech companies have reported earnings, what is the next catalyst to move the markets higher potentially? We are currently Intermediate-term bullish and short-term bullish. John N. Lilly III CPFA Accredited Portfolio Management Advisor℠ Accredited Asset Management Specialist℠ Portfolio Manager, RJFS Partner, DJWMG Windsor Wealth Planners & Strategist Futures trading is speculative, leveraged, and involves… Read More
