The S&P 500 moved above the 200-day moving average.
- The S&P 500 moved above the 200-day moving average at 2743.8 on 2/13/2019.
- The next resistance level is now potentially at 2780.04.
- The 10-day moving average, the brown line, has acted as support during this move off the low set on 12/24/2018. So, this moving average will be watched closely.
- RSI is not overbought at this time which means there could potentially be more upside to come.
- The recent rally has come on good volume.
John N. Lilly III, AAMS
Portfolio Manager, RJFS
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. 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.