Daily Commentary
Headline News:
U.S. stock futures moved lower after the Federal Reserve meeting notes showed a division over future rate cuts. The minutes showed the board was divided over the quarter-point rate cut from and wanting to signal the cut was not a path to future rate cuts. Investors will now be waiting to hear Fed Chairman Powell’s speech on Friday.
Markets:
The S&P 500 trading in a narrow range on Wednesday and volume was, again, lower than average. The RSI index continued to move sideways, so not much has changed for the index so far this week. Possible resistance will continue to be 2943.41 along with the 50-day moving average at 2946.84.
We are currently long term bullish and short term cautious.
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.