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- Positive
Money Flow Index-MFI-Positive
More on the Market:
The market seemed to talk its way through mixed data last week, with the S&P 500 closing at another record high on Friday and rising 1.2% for the holiday-shortened week. The Dow also finished the week with a new record high.
The popular notion that investors should “sell in May and go away” isn’t quite holding up based on the market’s performance in May. The S&P 500 advanced 2.1% for the month (marking the fourth consecutive monthly increase, and bringing the index to a gain of 4.1% year-to-date).
Looking at the month of May for the S&P 500 in recent years, this marks the second year in a row the catchphrase hasn’t delivered:
2013: up 2.1 percent
2012: down 6.3 percent
2011: down 1.4 percent
2010: down 8.2 percent
2009: up 5.2 percent