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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
Money Flow Index-MFI-Positive
More on the Market and the Economy:
Despite weak economic data, stocks rose modestly on Friday in choppy trading. The S&P 500 closed at a new record high for the second day in a row, and finished the week with a .3% gain thanks to Thursday’s rally.
This week data will be released on housing starts, existing home sales, leading economic indicators, inflation and the Fed’s meeting minutes.
The Energy Information Administration expects gasoline prices to average $2.43 per gallon this year, compared to $3.36 in 2014, with the average household spending $675 less on gas in 2015.
Gold demand fell 1% in the first quarter, slipping to 1,079 tons on lukewarm buying in key markets, according to the World Gold Council. Jewelry purchases fell 3% from one year ago to 601 tons, and gold investment fell 10% year-on-year to 253 tons. While demand in China dropped 7%, demand in India picked up 15%. And central banks continued buying, with purchases amounting to 119.4 tons, extending net purchases to 17 consecutive quarters.
Household debt balances were basically flat in the first three months of 2015, according to the New York Fed’s Household Debt and Credit Report. At the end of March, total indebtedness stood at $11.85 trillion – up $24 billion from the fourth quarter of last year. At the same time, delinquencies, bankruptcies and foreclosures all improved. The percentage of debt in some stage of delinquency fell to 5.7%, and the number of people with a foreclosure added to their credit report fell to 112,000 – the lowest since 1999. The number of consumers with a bankruptcy notation added to their credit report fell 4% to the lowest since 2006.
The US is lagging behind when it comes to investing in human capital, according the World Economic Forum’s Human Capital Index. Based on measures of levels of education, skills development and jobs available, the US ranks 17th out of 124 countries in the index. Finland ranks 1st in leveraging human capital, followed by Norway, Switzerland, Canada and Japan making up the top five.