“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)-Negative
Chaikin Money Flow (CMF)-Negative
Money Flow Index-MFI-Positive
More on the Market and the Economy:
Stocks ended the holiday-shortened week with a loss, with the S&P 500 posting a 1.2% decline for the week as uncertainty in Greece continued to worry the market. The index started out the week with its biggest one-day decline in more than a year, and then finished the second quarter down .2%, ending a nine-quarter winning streak.
This week data will be released on the service sector, the trade deficit, the JOLTS report and the Fed’s meeting minutes.
Last Tuesday, Greece failed to repay €1.5 billion to the International Monetary Fund on time, making it the first European Union country to default on an IMF loan. With the missed payment, Greece joined the ranks of Zimbabwe, Somalia and Sudan.
According to the National Retail Federation, more than 156 million consumers planned to celebrate the 4th of July by attending a picnic or cookout, spending an average of $71.23 per household, up from $68.16 last year, and amounting to a total of $6.6 billion.
In July 1776, an estimated 2.5 million people lived in the newly independent nation, and as the country marked the 4th of July this year, an estimated 321.2 million people live in the US, according to the Census Bureau. And while the British were our adversary in 1776, the dollar value of trade between the US and the United Kingdom was $107.9 billion last year, making the country our seventh-leading trade partner.
According to the Stockholm International Peace Research Institute, Saudi Arabia’s military spending amounts to 10.4% of its GDP – the biggest military budget as a percentage of economic growth. Last year, US military spending equaled 3.5% of GDP.
Over the last few decades, inflation-adjusted CEO compensation has increased 997%, rising from an average $1.5 million in 1978 to $16.3 million in 2014.