Daily Commentary
Headline News:
U.S. stock markets are set to start the week higher on hopes for resolving the U.S.-China trade war by November. Third-quarter earnings season is well underway, and markets could react to earing reports as they come out the rest of the week. This week big technology companies will be announcing earnings, including Microsoft (MSFT) and Intel (INTC).
Markets:
The S&P 500 closed lower on Friday and is now in the middle of the 2963.07-3003.28 trading range. The index had been reacting to ongoing earings reports, and we feel that trading inside the range could take place until the Q3 earnings season is over. The RSI index is still positive at the 54.93 level, which supports a possible bullish bias to start the week.
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.
This is not a recommendation to purchase or sell the stocks of the companies mentioned.