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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)-Positive
Chaikin Money Flow (CMF)-Positive
MACD- Positive
Money Flow Index-MFI-Positive
More on the Market and the Economy:
Stocks finished the week up following a solid jobs report, posting the sixth consecutive weekly gain – the longest weekly winning streak since late 2014. The S&P 500 logged a .95% gain for the week, bringing the index within 1.48% of its record close.
Source: dshort.com
This week data will be released on small business optimism, retail sales, business inventories and the Job Openings and Labor Turnover Survey.
In testimony before the House Financial Services Committee last week, Fed Chair Janet Yellen said that if data continued to point to growth, a December rate hike would be a “live possibility”, and that she sees “the US economy as performing well”.
Speaking on Friday, St. Louis Fed President James Bullard said that the strengthening job market supports a rate hike: “In October, the committee removed the key sentence citing global factors and suggested that the zero interest rate policy could be ended soon, depending on incoming data. The market-based probabilities of a near-term end to the zero interest rate policy have increased.”
The US Postal Service announced last week that it will hire 30,000 workers for the holiday season, and it expects to deliver approximately 15.5 billion cards, letters, and packages during that time. The USPS anticipates delivering around 600 million packages between Thanksgiving and New Years Eve.
According to the Census Bureau, there are at least 350 languages spoken in US homes: “While most of the U.S. population speaks only English at home or a handful of other languages like Spanish or Vietnamese, the American Community Survey reveals the wide-ranging language diversity of the United States. For example, in the New York metro area alone, more than a third of the population speaks a language other than English at home, and close to 200 different languages are spoken”.
The global wealth pyramid, according to the Global Wealth Report from Credit Suisse:
As we mark Veteran’s Day on Wednesday, some statistics from the Census Bureau:
“19.3 million
The number of military veterans in the United States in 2014.
1.6 million
The number of female veterans in the United States in 2014.
9.4 million
The number of veterans age 65 and older in 2014. At the other end of the age spectrum, 1.7 million were younger than 35.
7.0 million
The number of Vietnam War veterans in 2014. Moreover, there were 5.5 million who served during the Gulf War era (representing service from August 1990 to present); 1.1 million who served in World War II; 2.0 million who served in the Korean War; and 4.4 million who served in peacetime only.
62,544
The number of living veterans in 2014 who served during the Vietnam War and both periods of the Gulf War (August 1990 to August 2001 and September 2001 or later).
Other living veterans in 2014 who served during three wartime periods:
36,396 served during World War II, the Korean War and the Vietnam War.
Number of living veterans in 2014 who served during two wartime periods:
1,059,546 served during the first part of the Gulf War (August 1990 to August 2001) and the second part (September 2001 or later).
284,985 served during the Gulf War (August 1990 to August 2001) and the Vietnam War.
161,768 served during the Korean War and the Vietnam War.
83,558 served during World War II and the Korean War.”
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