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Market Update

“You work hard for your money. We’ll work hard to protect it.”

Market Direction Is Important –

Updated Chart of the S&P 500 and Secondary Signals

Of our Four secondary indicators under our MTI:

  1. Relative Strength Index (RSI)-Negative

  2. Chaikin Money Flow (CMF)-Negative

  3. MACD- Negative

  4. Money Flow Index-MFI-Negative

More on the Market and the Economy:

Stocks dropped on Friday, in the midst of a global sell-off and weaker than expected economic data. The S&P 500 and the Dow both posted their worst two-week start to a year on record, and the S&P 500 entered into correction territory.

Source: dshort.com

This week data will be released on housing starts, inflation, existing home sales and the Conference Board’s leading economic indicators.

The release of the Federal Reserve’s Beige Book showed that nine of the Fed’s twelve districts reported modest economic growth.

The Atlanta Fed’s GDPNow model is estimating fourth quarter growth of .6%, following Friday’s data on retail sales and industrial production.

Small business optimism edged up in December, as the NFIB index rose to 95.2. Business owners appeared more confident about sales, but more pessimistic about business conditions. According to the NFIB, “Congress made permanent expensing and other favorable tax changes that had an immediate impact on bottom lines whereas most borrowers already have their cheap loans. However, prospects for any other substantive policy changes in 2016 are not good”.

Job openings rose to 5.43 million in November, and the number of people hired rose to 5.2 million.

After attempting to persuade the Federal Reserve to postpone a rate hike last year, the IMF last week called for officials to be cautious with a second rate increase. Managing Director Christine Lagarde cautioned that future hikes should be “based on clear evidence of firmer wage or price pressures”.

As Martin Luther King, Jr. Day was observed yesterday, an infographic on changes in the country’s African-American population:

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