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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)-Positive

  3. MACD- Negative

  4. Money Flow Index-MFI-Negative

More on the Market and the Economy:

Stocks broke a six-week winning streak on Friday, closing with the biggest loss in twelve weeks. The S&P 500 logged a steep 3.6% loss for the week.

Source: dshort.com

This week data will be released on industrial production, consumer prices, housing starts, the FOMC meeting minutes and the Conference Board’s leading economic indicators.

Speaking last Thursday at a research conference, Fed Chair Janet Yellen said that Fed officials need to consider financial regulations when contemplating a rate hike, noting that “policymakers should be mindful of new channels for monetary policy transmission that may have emerged from the intricate economic and financial linkages in our global economy that were revealed by the crisis…It is crucial to understand the effect of regulations and possible changes in financial intermediation on monetary policy implementation and transmission”.

According to the World Gold Council, gold demand rose 8% in the third quarter, reaching a two-year high of 1,120.9 tons. Jewelry demand, which accounts for over 60% of gold demand, rose 6% to 631.9 tons – the highest level for the third quarter since 2008, while investment demand rose 27% to 229.7 tons. Central banks purchased 175 tons. The report was cautious on the outlook for the fourth quarter: “after such an exceptional third quarter, it is worth sounding a note of caution for the fourth quarter”.

Housing affordability declined in the third quarter, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index, as 62.2% of new and existing homes sold were affordable to families earning the U.S. median income of $65,800 (down from 63.2% in the second quarter). The median home price rose slightly to $231,000.

An interesting infographic on the percentage of workers that use all of their vacation time:

As Veteran’s Day was marked last week, an infographic on the Veteran population:

Komen


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