Headline News: U.S. stock futures are higher after a positive January jobs report and progress on a new economic stimulus package progress. President Biden’s $1.9 trillion aid bill is now more likely after the U.S. Senate approved a budget plan allowing for the legislation to pass in the coming weeks. The Labor Department’s Nonfarm Payrolls report showed 49,000 new jobs in January, and the unemployment rate fell to 6.3%. The news has investors in a bullish mood as the data continues to show the U.S. economy is slowing getting stronger after starting to reopen. Markets: The S&P 500 rallied past the last line of resistance at 3859.75 and closed at a new all-time high of 3871.74. The move did come on lower volume with 2,357,173,504 shares trade, and RSI moved higher is support closing at 60.78. The index rallied close to 4% this week with little rest, so we feel some profit-taking may come in to close out the week. If so, we also feel it will be a potential buying opportunity. Possible support should come in at 3859.75, which should hold today. We are currently long-term bullish and short-term bullish. John N. Lilly III CPFA Accredited Portfolio Management Advisor℠… Read More
Headline News: U.S. stock futures are higher after a continuation of upbeat earnings reports and a decline in weekly jobless claims. U.S. companies are on pace to post earings growth for the four-quarter according to data provider Refinitiv. The growth comes despite projections of a 10% drop due to the COVID-19 pandemic. The Labor Department’s Initial claims for unemployment benefits totaled 779,00 for the week ended Jan 30. That was lower than the previous week’s number that came in at 812,000. The decrease suggests that the labor market is starting to normalize as the U.S. economy starts to open back up. Markets: The S&P traded sideways on Wednesday after briefly breaking support at 3826.69 to close lower at 3830.17. The volume was still well below average, with 2.259.888,384 shares traded. We feel the trading was constructive and the possible start of a base after the recent rally. Possible support will remain at 3826.69, and potential resistance remains at 3859.75. Absent any significant market-moving news; we feel the index will move sideways the next few days. We are currently long-term bullish and short-term bullish. John N. Lilly III CPFA Accredited Portfolio Management Advisor℠ Accredited Asset Management Specialist℠ Portfolio Manager, RJ Partner,… Read More
Headline News: U.S. stock futures are mixed as the recent volatility declined on expectations of new regulations possibly being introduced soon. Treasury Secretary Janet Yellen called a meeting of top officials to look into recent hedge fund trading that made headline news. There is also the continued hope for fiscal stimulus out of Washington soon to aid the U.S. economy. Meanwhile, hiring by U.S. private companies increased in January despite a rise in COVID-19 cases. The ADP National Employment Report showed private payrolls increased by 174,000 compared to only 78,000 in December. Markets: The S&P 500 moved above resistance at 3776.51 and closed higher at 3826.31. The index is now just below potential resistance at 3826.69, and we feel that level will possibly be breached today. However, the last two up days have come with below-average volume, which could mean there is a lack of conviction in the recent rally. The RSI index did move higher and closed solidly above the middle line at 56.38. The S&P 500 could now start to form another base under the 3859.75 level before another attempt at a new all-time high. We are currently long-term bullish and short-term bullish. John N. Lilly III CPFA… Read More
Markets: The S&P 500 moved below two important support levels and closed lower at 3714.24 on Friday. The two selloff days came with much higher volume, and the RSI index moved below the midline to close at 43.27. New potential support could now come in at 3700.65, and possible resistance could come in at 3723.21 and 3768.25. Since starting the year trading at new highest the index has reversed course and is now in need of new buyers to come back in soon. We are currently long-term bullish and short-term bullish. John N. Lilly III CPFA Accredited Portfolio Management Advisor℠ Accredited Asset Management Specialist℠ Portfolio Manager, RJ 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 (RSI), developed by J. Welles Wilder, is a momentum oscillator that measures the speed and changes of price movements. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the U.S stock market. Past performance may not be indicative of future results.… Read More
Headline News: U.S. stock futures are set to open lower as worries about high stock valuations, rising COVID-19 cases, and slow vaccine rollouts have investors cautious to start the day. However, Microsoft (MSFT) was higher by 2.0% in pre-market trading after announcing positive fourth-quarter earnings. The focus will now be on Apple (AAPL), Tesla (TSLA), and Facebook (FB), as they all will announce later today. Markets: The S&P 500 attempted to break out of the current 3826.69-3856.75 trading range but failed, closing lower at 3849.62. The volume was lower, with 2,537,872,384 shares traded. The index is still forming a base inside the range and is still in a position to, potentially, close at another new all-time high soon. As long as possible, support at 3826.69 continues to hold; we feel confident that a new uptrend will potentially be in place soon. We are currently long-term bullish and short-term bullish. John N. Lilly III CPFA Accredited Portfolio Management Advisor℠ Accredited Asset Management Specialist℠ Portfolio Manager, RJ 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… Read More
Headline News: U.S. stock futures are slightly higher as investors wait on fourth-quarter earnings from large blue-chip companies. The Federal Reserve starts a two-day meeting this morning and is not expected to announce any new policy changes on Wednesday. New talk of “bubbles” in stocks has investors concerned a pullback could happen soon. However, upcoming forecasts from corporate American could possibly help calm those fears. Markets: The S&P 500 had a wide-ranging day that saw a low of 3797.16 and a high of 3859.25. The index managed to close at another all-time high of 3855.36. The trading came with above-average volume of 2,782,315,008, and RSI did move higher to close at 66.65. We feel the mid-day rally into the close is a possible sign the recent uptrend will continue because we know buyers have become very active. Potential resistance could come in at 3856.76, but we don’t think this level will not hold for long before another new high is potentially achieved. We are currently long-term bullish and short-term bullish. John N. Lilly III CPFA Accredited Portfolio Management Advisor℠ Accredited Asset Management Specialist℠ Portfolio Manager, RJ Partner, DJWMG Windsor Wealth Planners & Strategist Futures trading is speculative, leveraged,… Read More
Headline News: U.S. stock futures are higher due to investors’ hope for more stimulus money and a more efficient vaccine rollout under President Biden. Democrats took control of the Senate on Wednesday, and Congressional Republicans expressed a willingness to work on the Biden $1.9 trillion relief package. Investors will also continue to monitor fourth-quarter earnings results and upcoming economic reports coming out this week. Markets: The S&P 500 moved past resistance at 3826.69 and closed at a new all-time high at 3851.85. The day came with less than average volume at 2,389,771,520 and makes the new high suspect for now. A follow-through day with above-average volume would be a good sign a new uptrend is firmly in place. If sellers should come into the market, we feel potential support at 3826.69 will hold and provide a possible buying opportunity. We are currently long-term bullish and short-term bullish. John N. Lilly III CPFA Accredited Portfolio Management Advisor℠ Accredited Asset Management Specialist℠ Portfolio Manager, RJ 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… Read More
Headline News: U.S. stock futures are higher as Joe Biden is set to become the 46th President of the United States at noon today. The new President is set to sign 15 executive orders immediately on issues ranging from the pandemic, climate change, and immigration. Also, Treasury Secretary nominee Janet Yellen encouraged lawmakers to “act big” to help prop up the U.S. economy and vowed to worry about the debt after the pandemic is over. Markets: The S&P 500 moved above resistance at 3788.73 and closed higher on the day at 3798.91. More importantly, the index gained back all the losses from the heavy selling last Friday. The volume was lower with only 2,480,939,776 shares traded, but the RSI moved much higher in support of the move to close at 61.38. The index is now back in the 3788.73-3826.69 trading range. If there is another positive trading day today, the S&P 500 will be back in position to, possibly, attempt a move to a new all-time high soon. We are currently long-term bullish and short-term bullish. John N. Lilly III CPFA Accredited Portfolio Management Advisor℠ Accredited Asset Management Specialist℠ Portfolio Manager, RJ Partner, DJWMG Windsor Wealth Planners & Strategist Futures… Read More
Headline News: U.S. stock futures are higher pre-market as investors await a speech from U.S. Treasury Secretary nominee Janet Yellen. The future Treasury Secretary is expected to make a case for a large stimulus relief package later today. Also, there will also be more earning announcements, including more from large U.S. banks that could provide insights into the health of the U.S. economy. Earlier this morning, global stocks got a boost when China reported their economy actually grew in 2020 and picked up the growth pace late in the year. Markets: The S&P 500 traded below support at 3776.51 on Friday and closed lower ahead of a three day weekend at 3768.25. The trading came on higher volume with 2,733,177,856 shares traded, and RSI dove lower to close at 57.06. We feel traders may have gone to cash to protect themselves from any bad news over the weekend, and we also believe those sellers will become potential buyers today. New possible resistance could now come in at 3788.73, and potential support will remain at 3723.03. We are currently long-term bullish and short-term bullish. John N. Lilly III CPFA Accredited Portfolio Management Advisor℠ Accredited Asset Management Specialist℠ Portfolio Manager, RJ Partner,… Read More
Headline News: U.S. stock futures are higher as investors anxiously await the details of President-elect Joe-Biden’s proposals for a new economic relief package. The U.S. labor market continues to struggle as coronavirus cased continue to increase throughout the country. The number of Americans filing for unemployment benefits rose to 965,000 last week compared to 784,000 the week before. Adding to the labor market woes was the Federal Reserve’s Beige Book report that stated, “contacts in the leisure and hospitality sectors reported renewed employment cuts due to stricter containment measures.” Markets: The S&P 500 continued to build a base and is now in a clear trading range of 3783.60-3862.69. The index is now in prime position for a potential move to a new all-time high. The start of the fourth-quarter earnings season could be the catalyst that moves the index past possible resistance at the upper level of the range at 3826.69. We are currently long-term bullish and short-term bullish. John N. Lilly III CPFA Accredited Portfolio Management Advisor℠ Accredited Asset Management Specialist℠ Portfolio Manager, RJ Partner, DJWMG Windsor Wealth Planners & Strategist Futures trading is speculative, leveraged, and involves substantial risks. Investing always involves risk, including the loss of… Read More
