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Market Updates

Morning Commentary

March 25th, 2019

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Headline news:

The S&P 500 futures were down 4.5 points as of 7:30 a.m. to start the week. Overnight the global markets continued selling off, but losses were trimmed when German business climate data came in better than expected. The inversion on Friday of the U.S. three-month and 10-year Treasury yield curve is a warning of a possible global slow down. However, the spread turned positive after the release of the German economic data.

Markets:

The S&P 500 sold off down to the 20-day moving average on Friday. That will now act as potential support. The next level of potential support will now be at 2755.39 at the 200-day moving average. A third level could possibly be 2738.39. The selling came on higher than average volume, and the RSI is confirming the selling.

Economy:

The spread between the U.S. three-month and 10- year Treasury yield did turn positive this morning. The important spread of 2- year Treasury and 10-year Treasury yield is still also positive at .13bps. Until the 10Y-2Y is the main spread used by the Fed, and we will not panic until that spread inverts.

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John N. Lilly III
Accredited Portfolio Management Advisor℠
Accredited Asset Management Specialist℠
Portfolio Manager, RJ
Partner, DJWMG
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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