U.S stock markets are set to open higher today on news that a deal to roll back tariffs Chinese could be in the works soon. According to “people familiar with the talks,” both sides are close to agreeing on which tariffs should be removed and how to enforce China’s agricultural purchases from the U.S.
The S&P 500 moved briefly moved below support at 3091.41 but rallied to close at 3093.20. The late-day buying came with good volume, so we feel that buyers could potentially be back in charge. The RSI index has moved down to the 50 level where it could possibly reverse and start moving higher. We are currently long-term bullish, and short-term cautious.
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
Dominguez & Jones Wealth Management Group
The Relative Strength Index (RSI), developed by J. Welles Wilder, is a momentum oscillator that measures the speed and changes of price movements.
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