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Market Updates

Daily Commentary

August 23rd, 2019

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Headline News:

U.S stock futures are lower on news that China will impose $75 billion worth of tariffs on U.S. goods. S&P 500 futures were higher to start the day before the announcement. Also, today Fed Chairman Jerome Powell will give a speech at Jackson Hole, and traders will be looking for any verbiage on possible future interest rate cuts.

Markets:

The S&P 500 has formed a tight range of 2899.60-2943.41 over the last four trading days on lower than average volume. The low volume shows investors are uncertain about the future direction of markets. The RSI index has also moved in a tight range and is just under the 50 level. So, it appears markets are still cautious and are looking for any catalyst to possible move the index higher.

We are currently long term bullish and short term cautious.

John N. Lilly III
Accredited Portfolio Management Advisor℠
Accredited Asset Management Specialist℠
Portfolio Manager, RJ
Partner, DJWMG
Dominguez & Jones Wealth Management Group

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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, 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.

 

 

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