Daily Commentary
Headline News:
U.S stock markets are set to open higher today on news that a deal to roll back tariffs Chinese could be in the works soon. According to “people familiar with the talks,” both sides are close to agreeing on which tariffs should be removed and how to enforce China’s agricultural purchases from the U.S.
Markets:
The S&P 500 moved briefly moved below support at 3091.41 but rallied to close at 3093.20. The late-day buying came with good volume, so we feel that buyers could potentially be back in charge. The RSI index has moved down to the 50 level where it could possibly reverse and start moving higher. We are currently long-term bullish, and short-term cautious.
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.