The U.S. markets are up sharply this morning on strong Chinese factory data, more progress on a trade deal. European markets posted their best daily gains since February while Asian markets were up over 1%. Also, the U.S markets posted their best quarterly gains in over a decade last Friday.
The S&P 500 is now in the middle of the trading range of 2785.2-2860.3. We feel the index could potentially test the high of the range this week. We also feel that later this week the index can potentially make a new high for the year.
The fourth quarter U.S. GDP was reported at 2.2% on 3/28/2019 which was lower than the previous quarter. Growth slowed down which could hurt the economic expansion in the first quarter of 2019. Economist are now projecting the growth rate to slow down to 1.5% for the year.
We are currently bullish.
John N. Lilly III
Accredited Portfolio Management Advisor℠
Accredited Asset Management Specialist℠
Portfolio Manager, R
Partner, 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. 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 “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.