U.S. stock futures were higher as investors continued to evaluate earnings from major S&P 500 companies. Tesla (TSLA) is one of the companies that will release results after the closing bell today. Meanwhile, Apple (AAPL) announced plans to invest $1 billion on a new campus in Raleigh, North Carolina, and they will employ 3,000 people working on new technology. Las Vegas casinos will also be allowed to operate at 80% capacity beginning Saturday, and the EU is reportedly planning to allow Americans to travel the region freely.
The S&P 500 tested the old high at 4191.31 and briefly traded at a new all-time high of 4194.17 during Friday’s trading. RSI also moved higher in support, closing at 65.32. The index has now formed a good base, and we now feel a new closing high is the potential next move. We are moving back to a short-term bullish stance.
We are currently long-term bullish and short-term bullish.
John N. Lilly III CPFA
Accredited Portfolio Management Advisor℠
Accredited Asset Management Specialist℠
Portfolio Manager, RJFS
Windsor Wealth Planners & Strategist
Futures trading is speculative, leveraged, and involves substantial risks. Investing always involves risk, including the loss of principal, and futures trading could present additional risk based on underlying commodities investments.
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.