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:
Stocks extended gains for a third week in a row, closing at record highs on Friday following the May jobs report, which showed that the economy recouped the 8.7 million jobs lost during the recession when it added 217,000 jobs for the month. The S&P 500 advanced 1.3% for the week, and logged it’s 18th record close of the year.
Small caps also rallied, with the previously battered Russell 2000 Small Cap Index just breathing on positive territory for the year after a 2.7% weekly gain.
While the market rose to record highs, the CBOE Volatility Index, a measure of investor uncertainty, fell 8.3% to the lowest level since February 2007.