Daily Commentary
Headline News:
U.S. stock futures are higher this morning as the United States and China agreed to hold high-level talks next month. The potential easing of trade tensions has global markets higher, and investors are potentially moving back into stocks. The Friday jobs report will be watched closely and could also be a market-moving event.
Markets:
The S&P 500 closed on Wednesday at 2937.78 and is now just under critical resistance at 2943.31. We feel the index is currently set up to potentially break out of the base formed since the beginning of August. RSI supports the up move and is presently at 53.37 above the 50 level that typical triggers more buying.
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.