Daily Commentary
Headline news:
U.S. stock futures were lower due to worries over a possible U.S military strike against Iran. European markets were weak, Japan’s Nikkei was lower, and China stocks ended the day higher. President Trump sent a message to Iran officials that an attack was imminent only to call off the attack last night. Investors will potentially wait and see how this conflict plays out before committing new money to U.S. markets.
Markets:
The S&P 500 raced to a new all-time high with better than average volume on Thursday. The RSI index also moved higher in support of the up move and is now just under the overbought level. We feel that new highs are coming after some sideways trading and the Middle East tensions are resolved. The index is now extended and markets rarely breakout to new highs from an extended position.
We are currently long term bullish and short bullish.
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, onions 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.