Daily Commentary
Headline News:
U.S. stock futures were higher to start the week lead by advances in some of the big-cap technology companies. Markets are looking past President Trumps threat to delist Chinese companies from U.S. stock markets. China and the United States are set to continue to talks on trade next week, and there is some hope the trade tension can be resolved with no more escalations.
Markets:
The S&P 500 had a volatile day on Friday where it moved below the support of 2957.01 and the 50-day moving average at 2948.82. However, the index did rally and touched resistance at 2989.43 only to close at 2961.79 for the week. Markets have been resilient despite many adverse news events. We feel this is another good sign that there could be a move higher to the old highs soon.
We are currently long term bullish and short term 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.