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Market Updates

Morning Commentary

May 2nd, 2019

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Headline news:

U.S. markets are set to open slightly lower to start the day after selling pressure came into markets on Wednesday. Global markets were mixed after a report that a trade deal could be done by May 10th. First quarter productivity for the U.S. increased at its fastest pace in more than four years at 3.6% increase for the quarter.


The S&P 500 came under pressure on Wednesday and sold off down to the 10-day moving average at 2925.30. The selling came with better than average volume which also caused the RSI index to move below the 70 line. A move below the 70 level is typically a short term sell signal, and we will remain short term cautious going forward. The index now has potential resistance at 2954.13, and potential support near the 20-day moving average at 2908.46.


The FOMC held the line on Wednesday and did not lower rates as President Trump suggested. The committee made it clear that no action on interest rates was on the horizon. Chairman Powell said the recent relapse in inflation rates was likely temporary, so it appears the Fed will be on the sidelines for foreseeable future.

We are currently long term bullish with short term caution.

John N. Lilly III
Accredited Portfolio Management Advisor℠
Accredited Asset Management Specialist℠
Portfolio Manager, RJ
Partner, Windsor Wealth

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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, onions 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. The NASDAQ Composite is a stock market index of the common stocks and similar securities listed on the NASDAQ stock market.




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