Daily Commentary
Headline News:
Wall Street is set to open lower after a report that the U.S. will move forward with possible curbs on capital inflows into China. Also, a South China Morning Post report claimed China had lowered its expectations ahead of the trade talks on Thursday.
Markets:
The S&P tried to rally on Monday but sold off let in the day to close at 2938.79, which was below support at 2945.50 and the 50-day moving average at 2940.62. The RSI index turned lower, and volume was, once again, lower than average. New potential support will be at 2921.86 if the selling should continue. The lack of volume over the last three trading sessions could mean investors are uncertain and unwilling to hold potential riskier assets for the long term.
We are currently long term bullish and short term bearish.
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.