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Market Direction Is Important –
Updated Chart of the S&P 500 and Secondary Signals
Of our Four secondary indicators under our MTI:
Relative Strength Index (RSI)-Negative
Chaikin Money Flow (CMF)-Positive
MACD- Positive
Money Flow Index-MFI-Positive
More on the Market and the Economy:
Stocks dropped on Friday as the market digested mixed employment data, with the S&P 500 falling 1.85% to post a weekly decline of 3.1%.
Source: dshort.com
This week data will be released on small business optimism, business inventories, retail sales, and the Job Openings and Labor Turnover Survey.
The pace of hiring slowed as the economy added 151,000 jobs in January, while on the upside the unemployment rate fell to 4.9%, the lowest since 2008, as the labor force participation rate edged up to 62.7% and wages increased.
Consumer spending was flat in December as Americans bought fewer cars and spent less on gas. Still, spending in 2015 was the strongest in a decade.
The trade deficit increased 2.7% in December to $43.4 billion, as exports slipped and imports rose. For 2015, exports fell 4.8% – the biggest decline since the recession – while the trade deficit climbed 4.6% to $531.5 billion.
Source: Census Bureau
An infographic on the Super Bowl, then and now:
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