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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)-Negative
Money Flow Index-MFI-Negative
More on the Market and the Economy:
Stocks dropped on Thursday, and after three years of double-digit gains, the S&P 500 finished the year with a .73% loss.
Consumer confidence improved as the year drew to a close, with the Conference Board’s confidence index increasing to 96.5: “As 2015 draws to a close, consumers’ assessment of the current state of the economy remains positive, particularly their assessment of the job market. Looking ahead to 2016, consumers are expecting little change in both business conditions and the labor market. Expectations regarding their financial outlook are mixed, but the optimists continue to outweigh the pessimists”.
The latest release of the Philadelphia Fed’s State Leading Indexes signals that 42 states will expand into the second quarter of 2016, while 8 states are projected to slow.
Congress stepped up its pace a bit in 2015, after two fairly unproductive years. As of December 29th, Congress had enacted 113 laws, more than the first year of any two-year term since 2009, with 72 passed in 2013 and 81 in 2011.
With the start of the New Year, the Census Bureau estimated the US population on January 1st to be 322,762,018 – a .77% increase over January 1, 2015. The population has grown by 14,016,480, or 4.54%, since Census Day 2010. And in 2016, the US population is expected to increase by one person every 17 seconds.