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Daily Commentary

January 31st, 2020

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Headline News:

U.S. stock futures are lower this morning on fears the impact of the coronavirus will have on the global economy, and the World Health Organization (WHO) declared the outbreak a global emergency. Domestically, Amazon (AMZN) reported strong holiday sales and is up 10.5% pre-market. Caterpillar (CAT) and Visa (V) are both down sharply after missing analyst expectations. According to Refinitiv data, S&P 500 companies that have reported through Thursday had a 0.7% rise in profits.

Markets:

The S&P 500 traded down to 3242.80 only to rally late in the day to close at 3293.47. The trading came on better than average volume, and RSI moved higher to close at the 55.88 level. The index is now just below possible resistance at 3293.47, and potential support becomes 3223.43. So, a move above the resistance level could bring in more buyers to finish the week strong. We feel the index needs more time before trying to take out the resistance, and we will take a wait and see approach.

We are currently long-term bullish and short-term bullish.

Wealth Management Firm Near Me - SP 500 Retirement Investment Opportunities Graph IMG 114

John N. Lilly III
Accredited Portfolio Management Advisor℠
Accredited Asset Management Specialist℠
Portfolio Manager, RJ
Partner, Windsor Wealth
Windsor Wealth

 

 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. Keep in mind that individuals cannot invest directly in any index, and index performance does not include transaction costs or other fees, which will affect actual investment performance. Individual investors’ results will vary. Opinions expressed are those of the author John N. Lilly III, and not necessarily those of Raymond James. “There is no guarantee that these statements, opinions or forecast provided herein will prove to be correct. “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. International investing involves special risks, including currency fluctuations, different financial accounting standards, and possible political and economic volatility. Investing in emerging markets can be riskier than investing in well-established foreign markets.

 The WHO has multiple leadership priorities that include providing access to universal health care, preventing communicable diseases and researching factors that affect health. The Organization’s purpose is to direct and coordinate health for its signatory nations, provide leadership and determine paths for research.

Serving more than 40,000 institutions in approximately 190 countries, Refinitiv provides information, insights and technology that drive innovation and performance in global financial markets. Our heritage of integrity enables our customers to make critical decisions with confidence while our best-in-class data and cutting-edge technologies enable greater opportunity.

 

 

This is not a recommendation to purchase or sell the stocks of the companies mentioned.

 

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