Headline News: U.S. stock futures were flat to start the day as investors appear to be digesting recent gains to start the year. The uncertainty out of Washington with the impending impeachment vote in the U.S. House of Representatives is also a factor in pre-market trading. However, continued hopes of a robust COVID-19 relief package still exists, and also hopes the legislation will bring about a faster than expected recovery in the U.S. economy. Markets: The S&P 500 briefly moved below support at 3783.60 but rallied to close lower on the day at 3801.19. The index has started to form a base that we feel will potentially lead to another new all-time high soon. Volume came in higher at 2,624,239,360, and the RSI index closed at 65.13, also moving sideways. We also feel the market is looking for direction and will be in a base until the fourth-quarter earnings season kicks off in earnest on Friday. 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,… Read More
Headline News: U.S. stock futures are higher as investors will now focus on earnings from S&P 500 companies and new details about an economic stimulus package out of Washington. There is still some concern the impeachment process could delay President-elect Biden’s agenda for a new relief bill. Fourth-quarter earnings season will start this week with Citigroup (Cs and JPMorgan (JPM) announcing on Friday. The earnings reports will be watched closely to gauge the health of the U.S. economy and the health of U.S. corporations. Markets: The S&P 500 traded down near current support at 3783.04 and bounced off that level to close lower at 3799.61. The trading came on average volume at 2,328,041,216, and RSI moved out of the overbought zone to close at 64.95. If the S&P 500 can move sideways for a few days, we feel the uptrend can potentially continue. A break of current support at 3783.04 could bring in more selling into the market. However, we are still long-term bullish and feel any potential sellling could, possibly, be used as a buying opportunity. We are currently long-term bullish and short-term bullish. 269 John N. Lilly III CPFA Accredited Portfolio Management Advisor℠ Accredited Asset Management Specialist℠ Portfolio… Read More
Headline News: U.S. stock futures are substantially lower to start the week as the nation continued to have surging virus cases over the weekend. Also, of concern was weak economic reports last week that showed a slowing U.S. economy. Earnings season will kick off this week, and investors will want to see large corporations post strong earnings to continue the current uptrend. Markets: The S&P 500 moved higher for the fourth day in a row and closed at another new all-time high of 3824.68. The volume was only average with 2,369,188,096 shares traded, and RSI moved into the overbought zone. We feel the next move will be lower due to an overbought and extended S&P 500. Also, the low volume during the four-day run-up is another concern. The selling should only be profit-taking after a tremendous start to the year. There will be potential support at 3783.04 and then possibly 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, DJWMG Windsor Wealth Planners & Strategist Futures trading is speculative, leveraged, and involves substantial risks. Investing always involves risk, including the loss… Read More
Headline News: U.S. stock futures are higher, indicating another record high opening to end the week as investors continue to hope for additional stimulus to help prop up the U.S. economy in the coming months. Investors also feel the Biden administration will better at handling the virus vaccine rollout. However, the December Nonfarm payroll report decreased for the first time in eight months. There was a loss of 140,00 in December as the nation dealt with a surge in the COVID-19 cases. Markets: The S&P 500 moved past resistance at 3783.04 and closed at another new all-time high at 3803.79. The index is now also well clear of the long trend line in place since March of 2020. The new high came with good volume of 2,580,634,624, and the RSI index moved higher to close at 68.25. The index now has no overhead resistance and should be free to move higher from these levels. However, we feel that after three wide range up days, some profit-taking could potentially come in today to close out the week. We also feel the long term trend is high, and any selling could possibly be met with new buying. We are currently long-term bullish… Read More
Headline News: S&P 500 futures were up slightly while the Nasdaq futures were off 2% in pre-market trading. A potential Democrat sweep in the Georgia Senate elections will help President-elect Joe Biden to push for COVID-19 stimulus, but it could also mean higher taxes and more regulations for large technology companies. Meanwhile, U.S. private companies unexpectedly lost workers in December for the first time in eight months, and a new wave of virus infections is being blamed for the drop. The ADP National Employment Report showed private payrolls decreased by 123,000 jobs last month after forecasting a rise by 88,000. Markets: The S&P 500 moved above resistance at 3723.03 and closed at 3726.86 on Tuesday. The trading came with substantial volume with 2,381,034,496 shares traded, and the RSI index also rebounded to close higher at 58.94. The early morning trading shows technology stock being sold due to yesterday’s Senate election. So, this could potentially cause the S&P 500 to test the old support at 3662.71. However, the financial sector is higher in pre-market trading, and that could support the index today. We feel the current potential support level can hold today. We are currently long-term bullish and short-term bullish. … Read More
Headline News: U.S. stock futures are set for a flat open as the Georgia Senate race will now be the key focus for traders. The elections will determine the balance of power in Washington for the next two years. A new, more contagious strain of the coronavirus and virus-related curbs has investors fearful of an increased economic slowdown. Later today, the ISM’s manufacturing sector PMI will be released and is expected to be lower and could be another indicator of a slowing U.S. economy. Markets: The S&P 500 sold off heavy to start the year and moved below support at 3723.03 to close lower at 3700.65. The selling came with high volume with 2,722,207,488 shares traded, and the RSI index moved much lower to close at 54.98. We feel the selling was possibly profit-taking after a good 2020 return for the S&P 500. Buyers stepped in and supported the index at 3662.71, potentially the new support level. Potential resistance will now become 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, DJWMG Windsor Wealth Planners & Strategist Futures trading is speculative, leveraged, and… Read More
Headline News: U.S. stock futures are set to open higher at a new all-time high to start trading for the new year. Renewed optimism of a recovering global economy and continued COVID-19 vaccinations have investors in a bullish mood. Attention will now turn to the U.S. Senate runoff elections in Georgia, which could affect President-elect Joe Biden’s future legislation. Markets: The S&P 500 ended the year closing at another new all-time high of 3756.20 and is in a position, possibly, to start a new uptrend. On the last day of the year, volume was low with1,655,464,704 shares trades, which is typical for a holiday week. The RSI index did move higher to close at 67.82 and supports a potential new uptrend starting this week. Potential support could come in at 3723.03, and possible resistance could now come at the all-time high at 3760.20. 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… Read More
