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:
As the market welcomed Chinese e-commerce giant Alibaba in the largest IPO ever, the S&P 500 ended the week up 1.3%, posting its sixth weekly gain in seven weeks.
Gold fell on Wednesday after the Federal Reserve raised rate estimates for 2015, slipping to an eight-month low, as the prospect of higher rates diminishes gold’s appeal.
It was a choppy week for small-cap stocks: the Russell 2000 ended the week with a 1.07% decline, and fell below its 100-day moving average.
The Conference Board’s Leading Economic Index rose modestly in August, up .2% following July’s 1.1% increase. The Conference Board’s report noted that the “six-month growth trend has been held back slightly by lackluster contributions from housing permits and new orders for nondefense capital orders”, and that “leading indicators point to an economy that is continuing to gain traction, but most likely won’t repeat its stellar second quarter performance in the second half”.
The nation’s aggregate wealth topped $81.5 trillion, after bottoming out at $55 trillion in 2009, according to a new report from the Federal Reserve. The numbers show that wealth per household has gained roughly 29% since 2009, and has surpassed its pre-recession peak.
The poverty rate declined last year for the first time since 2006, according to a Census Bureau report. The official poverty rate fell to 14.5% in 2013, down from 15% in 2012. The number of people living in poverty stood at 45.3 million.