U.S. stock markets are set to open flat as investors wait for the Federal Reserve press conference later today. The impending tariff deadline on December 15th is also a concern for both the U.S. and Chinese stock markets. President Trump is set to meet with his top economic advisors this week before a final decision next week on the $160 billion tariffs on Chinese goods.
The S&P 500 moved lower on Tuesday to close at 3132.52 and is now in the middle of the current trading range of3104.60-3154.26. The trading was more of the sideways action we have been looking for, and we feel the trading could be the same for the rest of the week. The RSI index is above the 50 level, so we still believe the next significant move could possibly be too new all-time highs.
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
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.
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.