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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)-Positive

  2. Chaikin Money Flow (CMF)-Positive

  3. MACD- Positive

  4. Money Flow Index-MFI-Positive

More on the Market and the Economy:

October wasn’t that scary after all. The historically volatile month ended on a positive note, as the market rallied on Friday after the Bank of Japan unexpectedly expanded its stimulus, sending the S&P 500 and the Dow into record territory. The S&P 500 ended Friday up 1.17% at a record close, ended the week up 2.72%, and posted a 2.32% gain for the month.


October turned out to be a good month for small caps: the Russell 2000 rallied 6.5% for the month – the best since July 2013.

Noting improvements in the labor market, the Fed ended QE3 as planned. The bond-buying stimulus program added $1.6 trillion to the Fed’s balance sheet, bringing it close to $4.5 trillion – up from around $800 billion prior to the financial crisis. While completing the taper, the Fed maintained its pledge to keep interest rates low for a “considerable time”, and sent an upbeat signal on the economy: “economic activity is expanding at a moderate pace. Labor market conditions improved somewhat further, with solid job gains and a lower unemployment rate”.

This week will see releases on data for manufacturing, trade, construction spending, factory orders and the jobs report.

The US ranks 20th globally in gender equality, according to a new report from the World Economic Forum, moving up three slots from last year. Measures of gender equality are showing improvement, with the US ranking fourth among all countries in economic participation and opportunity.

Source: World Economic Forum


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