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Market Update

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)-Negative

  2. Chaikin Money Flow (CMF)-Negative

  3. MACD- Positive

  4. Money Flow Index-MFI-Positive

More on the Market and the Economy:

Stocks slumped on Friday amid a global selloff driven by intensifying worries of a Greek default and new stock market regulation out of China. The S&P 500 ended the week down 1%, posting a decline for the second week in a row.


This week data will be released on existing home sales, new home sales, home prices and durable goods orders.

The Fed’s latest Beige Book showed that officials expect to see “slight” or “moderate” growth across the country. The report noted that bad weather impacted housing, freight haulers, auto sales, and travel: the word weather appeared 71 times in the report.

The Conference Board’s measure of economic activity inched up in March, but suggested weaker growth going forward. “Although the leading economic index still points to a moderate expansion in economic activity, its slowing growth rate over recent months suggests weaker growth may be ahead,” according to the report. “Building permits was the weakest component this month, but average working hours and manufacturing new orders have also slowed the LEI’s growth over the last six months.”

Japan has taken China’s spot as the US government’s top creditor. The Treasury Department reported last Wednesday that at the end of February, Japan owned $1.2244 trillion in Treasury securities while China owned $1.2237 trillion, ending China’s six-year run as the top holder of US government debt. Over the past year, China has reduced its Treasury holdings by $49.2 billion while Japan’s increased by $13.6 billion.

The US could be energy independent in as little as four years, according to a new report from the Energy Information Administration, ending over 50 years as a net importer of energy. If oil prices were to spike to over $100 per barrel, US production would increase and cut demand for imported oil, in which case “the United States becomes a net exporter of energy in 2019”. A more slow and moderate rise in oil prices could mean the US would be energy independent by 2028.

Speeches have historically been the most popular way to announce a presidential candidacy. But so far in the 2106 race, two candidates, Hillary Clinton and Republican Senator Ted Cruz, have made their announcements online. And since the 2004 election cycle, while 27 of 41 candidates shared the news in a speech, 7 opted for the internet.

New Zealand tops the list for public spending on education, according to a report from the OECD. The country spends 21.6% of its total public expenditures on education, followed by Mexico at 20.5%. The US ranks lower at 13.6%.


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