Daily Commentary
Headline News:
Wall Street futures were lower in line with global markets, as U.S-China trade tensions drove investors to potential safer assets. The two sides are set to meet this month, but the dispute shows no signs of ending anytime soon.
Markets:
The S&P 500 continues to stay in the month-long trading range of 2822.12-2943.12. Friday’s trading closed at 2926.46 near the top of the range with RSI supporting the move closing at 51.92. The trading came on lower than average volume due to the three-day weekend, so today’s trading could be very active. We feel the markets will need to take a breather before attempting to breakout above key resistance at 2943.31.
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.