U.S. stock futures are higher to start the day after robust data from China eased concerns of slowing global growth. A private survey of China’s services sector expanded at the fastest pace in three months in August. Investors will now be looking for Friday’s jobs report show to support continued economic growth in the U.S.
The S&P 500 had heavy selling early but rallied off the low of the day on Tuesday. The index is still in the upper part of the 2822.12-2946.31 trading range, and volume picked up for the first time in two days. So, buyers are potentially moving back into stocks which could move markets higher today.
We are currently long term bullish and short term cautious.
John N. Lilly III
Accredited Portfolio Management Advisor℠
Accredited Asset Management Specialist℠
Portfolio Manager, RJPartner, 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.
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