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Morning Commentary

May 6th, 2019

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Headline news:

The S&P 500 futures are down 48 points due to President Trump’s threat to raise tariffs on China. The President said he would hike U.S. tariffs on $200 billion worth of Chinese goods this week, and he would also target billions more soon. Global markets were caught off guard after weeks of promising comments on a deal for weeks. Chinese shares were off 6% and European stocks were down to a one-month low to start the week.


The S&P 500 is set to open down 1.6 %, as of 8:49 am, and the index is just above potential key support at 2890.70. The next level of support could be 2873.33 and then 2860.30. Since most traders were caught off guard by the President’s comments markets could be in for a tough day. Our short-term bearish stance has proved correct, however, we feel the selling will not be heavy enough to move us to long term bearish today. Some investors could now be in a wait and see mode to start the week.


On Friday the employment situation report came in at a gain of 263,000 which was above estimates. The reported number for March was 196,000, so the economy appears to be healthy and growing.

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
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.




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