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:
The market shrugged of the disappointing August jobs report (perhaps in part because it tends to be among the most revised numbers), and the S&P 500 managed a modest gain on Friday to record a fifth consecutive weekly increase – marking the longest weekly winning streak since December.
This week the market will see data on small business optimism, consumer credit, job openings and labor turnover, business inventories and retail sales.
The recovery from the great recession is far from over for many Americans, according to the Federal Reserves latest Survey of Consumer Finances. Since 2007, median incomes have fallen 12%. And adjusting for inflation, the typical family makes just $200 more each year than in 1989. Progress had been made from 1992 to 2004, but that was erased.
While the stock market has more than fully recovered, the benefits of the bull market haven’t been shared evenly. Last year, stock ownership was 48.8% – below the 2007 peak of 53.2%. From 2010 to 2013, stock ownership among lower income families declined, while ownership among the top income group increased 3.9%.
Source: Federal Reserve