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Market Updates

Daily Commentary

January 13th, 2021

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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.

Financial Strategists Near Me - 2021 S and P 500 Daily Commentary Stock Market Graph IMG 297

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. 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.

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