“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:
Relative Strength Index (RSI)-Positive
Chaikin Money Flow (CMF)-Positive
Money Flow Index-MFI-Positive
More on the Market and the Economy:
Stocks closed higher on Friday, with the S&P 500 logging its best week of year with a 3.27% gain that erased most of the prior week’s loss.
This week data will be released on existing home sales, consumer spending, durable goods, new home sales and GDP.
The Conference Board’s Leading Economic Index rose .6% in October, following declines in August and September. The report noted “the U.S. LEI rose sharply in October, with the yield spread, stock prices, and building permits driving the increase. Despite lackluster third quarter growth, the economic outlook now appears to be improving. While the U.S. LEI’s six-month growth rate has moderated, the U.S. economy remains on track for continued expansion heading into 2016.”
Speaking to reporters on Friday, St. Louis Fed President James Bullard said that markets need to be prepared for uncertainty: ““We are going to return to an era where there is a bit more uncertainty about what the committee is going to do, meeting to meeting. Markets have been used to us being at zero for seven years where we didn’t have this kind of uncertainty. I would welcome the return of that”.
The Atlanta Fed’s GDPNow is forecasting 2.3% growth for the fourth quarter, holding steady following the release of data on industrial production, housing starts and consumer prices.
For the Thanksgiving holiday, a few statistics from the Census Bureau:
Percentage of households in 2011 with a gas or electric stove — essential for cooking their Thanksgiving feast. Another 96.8 percent had a microwave, also helpful in preparing the meal.
Percentage of households with a television in 2011. No doubt, many guests either before, after or perhaps even during the feast will settle in front of their TVs to watch some football.
Percentage of households with a stand-alone food freezer in 2011, which they may want to use to preserve their Thanksgiving leftovers. Far more (99.2 percent) have a refrigerator. Once all the guests leave, it will be time to clean up. Fortunately, 69.3 percent have a dishwasher to make the task easier.
The number of supermarkets and other grocery (except convenience) stores in the United States in 2013. These establishments are expected to be extremely busy around Thanksgiving as people prepare for their delightful meals.
The forecast for the number of turkeys the United States will raise in 2015. That is down 4 percent from the number raised during 2014.
The forecast for the number of turkeys Minnesota will raise in 2015. The Gopher State was tops in turkey production, followed by North Carolina (29 million), Arkansas (27 million), Indiana (19.1 million), Missouri (18 million) and Virginia (17.4 million).
The value of U.S. imports of live turkeys for 2014, with 100 percent of them coming from Canada. When it comes to sweet potatoes, the Dominican Republic was the source of 48.8 percent ($6.6 million) of total imports ($13.6 million). The United States ran a $16.5 million trade deficit in live turkeys during the period but had a surplus of $98.3 million in sweet potatoes.
841 million pounds
The forecast for U.S. cranberry production in 2015. Wisconsin was estimated to lead all states in the production of cranberries, with 503 million pounds, followed by Massachusetts (estimated at 211 million). New Jersey, Oregon and Washington were also estimated to have substantial production, ranging from 18 million to 59 million pounds.
3.0 billion pounds
The total weight of sweet potatoes — another popular Thanksgiving side dish — produced by major sweet potato producing states in 2014.”