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Market Updates

Daily Commentary

September 12th, 2019

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Headline News:

U.S. stock futures are higher to start the day after President Trump said he would delay proposed tariffs on Chinese imports. The decision which President Trump called a “gesture of goodwill” has investors potentially increase their appetite for risk-on assets. Also, the European Central Bank, ECB, is expected to offer new stimulus measures to help boost growth in the eurozone.

Markets:

The S&P 500 broke out above resistance on above-average volume to close at 3000.93 on Wednesday. The RSI index confirmed the move by turning higher to close at 61.30. Today’s trading needs to follow through with another day of above-average volume to confirm buyers are in control. Resistance will now potentially be 30015.89 and support will be potential support will now be 29989.43.

We are currently long term bullish and short term bullish.

 

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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