Daily Commentary
Headline News:
U.S stock futures were lower to start the day as investors are reacting to mixed quarterly earnings results from blue-chip companies. After the close today, Alphabet (GOOGL), Amazon (AMZN), Intel, (INTC), and Starbucks (SBUX) will report earnings. These are earrings could be market movers in either direction, and investors will possibly be cautious today ahead of the announcements.
Markets:
The S&P 500 broke through the old all-time high set on 7/15/2019 of 3017.80 and closed on Wednesday at 3019.59. The new high did not come with convincing volume, but the move should be considered a possible start to a new move higher. We are now short term bullish and will be looking for a follow-through up day on better than average volume to confirm a possible new uptrend.
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, 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.