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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)-Negative
Money Flow Index-MFI-Positive
More on the Market and the Economy:
Stocks closed lower on Friday as deadlocked Greek debt negotiations weighed on the market. The S&P 500 still managed a weekly gain of .8%.
This week data will be released on existing home sales, new home sale, durable goods, consumer spending and GDP.
The Conference Board’s Leading Economic Index rose .7% in May, following a .7% gain in April and a .4% gain in March. “The U.S. LEI increased sharply again in May, confirming the outlook for more economic expansion in the second half of the year after what looks to be a much weaker first half. While residential construction and consumer expectations support the more positive outlook, industrial production and new orders in manufacturing are painting a somewhat more mixed picture”, according to the Conference Board.
Over the past year, all but one state (West Virginia) have added jobs, and unemployement has fallen in all but five (Louisiana, South Carolina, North Dakota, South Dakota and West Virginia), according to the Economic Policy Institute. A total of fifteen states still have not recovered all of the jobs lost during the recession.
The US military is the world’s largest employer, according to the World Economic Forum. The Department of Defense has 3.2 million employees on its payroll. The second largest employer is China’s People’s Liberation Army with 2.3 million employees, followed by Walmart with 2.1 million.
According to the Urban Institute, the number of extremely low-income renter households has soared from 8.2 million in 2000 to 11.3 million in 2013 – a 38% spike. At the same time, many low income Americans can’t afford to rent: in 2013, just 28 out of 100 low-income renter households were able to find affordable housing, down from 37 out of 100 in 2000.
Source: Urban Institute
An interesting infographic on Father’s Day spending: