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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)-Positive

  2. Chaikin Money Flow (CMF)-Positive

  3. MACD- Positive

  4. Money Flow Index-MFI-Positive

More on the Market and the Economy:

Stocks wrapped up on Friday with solid weekly gains, with the S&P 500 finishing the week up 3.3% – its best week of the year.

Source: dshort.com

This week data will be released on small business optimism, retail sales, business inventories, inflation, industrial production and the Job Openings and Labor Turnover Survey.

The IMF cut its forecast for global economic growth to 3.1% for this year, cautioning that risks to the global economy are “more pronounced”. The report noted that “relative to last year, the recovery in advanced economies is expected to pick up slightly, while activity in emerging market and developing economies is projected to slow for the fifth year in a row”.

The World Bank expects China’s economy to grow 7% this year, and slow gradually over the next two years: “China has sufficient policy buffers and tools to address the risk of a more pronounced slowdown, including relatively low public debt levels, regulations restricting savings outside the banking system and the state’s dominant role in the financial system”.

The National Retail Federation expects holiday sales to increase 3.7% this year to $630.7 billion. According to the NRF: “Online sales are forecast to increase between 6 and 8 percent to as much as $105 billion. Retailers are expected to hire between 700,000 and 750,000 seasonal workers this holiday season, in line with last year’s 714,000 holiday positions”.

Source: NRF

An interesting infographic on smart technology in US homes:

Some interesting facts on banking from the Pew Charitable Trusts:

  1. “67 percent of the nation’s largest banks charge $35 to $38 per overdraft.

  2. 83 percent of the nation’s largest banks allow ATM and debit point-of-sale overdrafts.

  3. These banks reported over $2.4 billion in overdraft fee revenue for the first half of 2015.

  4. 52 percent of consumers who have paid an overdraft penalty fee for a debit card transaction (“overdrafters”) don’t recall opting in to overdraft coverage.

  5. According to the FDIC, 1 in 13 U.S. households (nearly 9.6 million households) is “unbanked”— i.e., does not have a bank account.

  6. 31 percent of respondents from unbanked households cited high or unpredictable fees as one reason they do not have accounts, and 13 percent said it was the main reason.”

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