Headline News: U.S. stock futures are higher and suggest a new all-time high open for the S&P 500. Fourth-quarter earnings have exceeded expectations easing concerns that markets were overvalued. The Labor Department announced that the U.S. CPI increased 0.3% last month and year over year rose 1.4%. Later today, Fed Chairman Jerome Powell will give a speech and is expected to say the Fed will tolerate a slow growth in inflation for now. The news appears to have investors in a bullish mood to start the day. Markets: The S&P 500 briefly traded at a new all-time high at 3918.35 only to sell off later to close lower at 3911.23. Again, volume was below average with only 2,053,238,144 shares traded, and RSI moved sideways to close at 63.99. We are hopeful the trading action is the start of a base and a rest period so the index can continue the recent uptrend soon. Potential support could still come in at 3892.59, and possible resistance could now come in at the 3918.35 level. 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… Read More
Headline News: U.S. stock futures are lower after closing at another all-time high on Monday. A lack of negative catalysts and strong corporate earnings has been cited as the reason for the recent six-day rally. Today, House Democrats will reportedly move forward with a stimulus bill that includes $1,400 checks with $75,000/year eligibility. The stimulus will be the first step toward the proposed $1.9 trillion bill President Biden has proposed to prop up the U.S. economy. Markets: The S&P 500 closed at 3915.59 on Monday, which was yet another all-time high. Also, once again, volume was low with 2,148,268,800 shares traded, which was below average. We continue to believe the index is extended and needs some sideways trading to consolidate recent gains. The first potential support level could come in at 3892.59 and then possibly at 3874.93. If selling should come in, the down move could be swift and present 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… Read More
Headline News: U.S. stock futures are trading at new all-time highs to start the week on hopes of a new relief package, and a speedy vaccine rollout that will prop up the U.S. economy. Treasury Secretary Yellen said if Congress approves the $1.9 trillion plan, the county could be at full employment in 2022. The CDC also announced that 31.59 million people had received one or more doses of the COVID-19 vaccines, while 9.1 million people go the second shot as of Sunday. Markets: The S&P 500 closed at another all-time high at 3886.83 on Friday, capping off a massive rally for the week. However, volume continues only be average, which is a concern. The index is not yet overbought, so there is room to potentially move higher this week. Potential support could come in at 3874.93 and then at 3859.75. Possible resistance will be the all-time high at 3894.56. We feel some sideways trading would be healthy but the recent uptrend should be in place as a new trading week starts. 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… Read More
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
