Daily Commentary
Headline News:
U.S. stock futures are higher to start the week as trade sentiment remains upbeat after a good week of corporate earnings. Hopes of a trade deal between the U.S. and China as wells as another possible rate cut by the Federal Reserve is also lifting investors sentiment.
Markets:
The S&P 500 moved above the September high of 3021.99 and closed on Friday at 3021.99. The move was encouraging, but it did come on less than average volume. The RSI index closed at 60.57 once again, supporting the move to a new high for the month. The index is now just under the all-time high of 3027.98 set on 7/26/2019, and we now would like to see some sideways trading days before attempting to me to a breakout to a new all-time high level.
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.