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
MACD- Negative
Money Flow Index-MFI-Positive
More on the Market and the Economy:
The market didn’t quite celebrate following some pretty good economic data, as solid numbers on retail sales and consumer sentiment had no impact on stocks Friday. Suggesting a tone of caution ahead of this week’s Fed meeting, stocks broke five consecutive weeks of gains and posted a loss as the S&P 500 logged a 1.1% weekly decline on increased volume.
Source: dshort.com
This week the market will have plenty to chew on, with data to be released on industrial production, consumer prices, housing starts, leading economic indicators, and the Fed meeting.
The US budget deficit narrowed to $128.7 billion in August – down 13% from the $147.9 billion deficit posted in August 2013. With one month left to go in the current budget year, the deficit totals $589.2 billion (22% below the same period last year), and is on track to close out as the lowest deficit since 2008. Last year, the deficit fell $680.2 billion, after hitting $1.4 trillion in 2009, and hovering above $1 trillion for the next three years.
Source: Treasury Department
And now, a look back at history:
Issues that Menaced the Market
1973: ENERGY CRISIS 1974: NIXON RESIGNS 1975: FALL OF VIETNAM 1976: ECONOMIC RECOVERY SLOWS 1977: MARKET SLUMPS 1978: RISE IN INTEREST RATES 1979: OIL PRICES SURGE TO NEW HEIGHTS 1980: INTEREST RATES AT ALL-TIME HIGHS 1981: BEGINNING OF A SHARPLY RISING RECESSION 1982: UNEMPLOYMENT REACHES THE DOUBLE DIGITS 1983: RECORD BUDGET DEFICIT 1984: TECHNOLOGY BUBBLE BURSTS 1985: EPA INITIATES BAN ON LEADED GASOLINE 1986: DOW AT 1800 – “TOO HIGH” 1987: STOCK MARKET CRASH 1988: WORST DROUGHT IN 50 YEARS 1989: SAVINGS & LOAN SCANDAL 1990: IRAQ INVADES KUWAIT 1991: RECESSION 1992: RECORD BUDGET DEFICIT 1993: CONGRESS PASSED LARGEST TAX INCREASE IN HISTORY 1994: INTEREST RATES ON THE RISE 1995: DOLLAR AT HISTORIC LOWS 1996: GREENSPAN’S “IRRATIONAL EXUBERANCE” SPEECH 1997: COLLAPSE OF THE ASIAN MARKETS 1998: LONG TERM CAPITAL COLLAPSES 1999: Y2K PROBLEM 2000: DOT-COM STOCKS PLUMMET 2001: TERRORISTS ATTACK ON U.S. SOIL 2002: CORPORATE SCANDALS: ENRON 2003: U.S. INVASION OF IRAQ 2004: INFLATED OIL PRICES 2005: TRADE DEFICIT 2006: LEBANON CONFLICT 2007: CREDIT CRUNCH 2008: MASSIVE BANKING FAILURES, HOME PRICES DOWN 2009: STATES HOVER NEAR BANKRUPTCY 2010: SOVEREIGN DEBT CRISIS 2011: EUROPEAN DEBT CRISIS 2012: FISCAL CLIFF
2013: SYRIAN CRISIS/DEBT CEILING DEBATES