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Market Update

“You work hard for your money. We’ll work hard to protect it.”

Market Direction Is Important –

Updated Chart of the S&P 500 and Secondary Signals

Of our Four secondary indicators under our MTI:

  1. Relative Strength Index (RSI)-Positive

  2. Chaikin Money Flow (CMF)-Positive

  3. MACD- Positive

  4. Money Flow Index-MFI-Positive

More on the Market and the Economy:

Stocks finished slightly lower on Friday, while the S&P 500 logged a 1.2% gain for the week as the market shrugged off the September jobs report, marking its fourth consecutive weekly gain.

Source: dshort.com

This week data will be released on small business optimism, retail sales, consumer prices, the Job Openings and Labor Turnover survey and the Fed’s FOMC meeting minutes.

The workforce shrank by 33,000 jobs in September, marking the first decline in seven years, the result of workplace disruptions due to hurricanes Harvey and Irma. The unemployment rate fell to 4.2%, the lowest level since December 2000.

The trade deficit shrank to $42.4 billion in August as exports rose to $195.3 billion while imports slipped to $237.7 billion. So far this year, the trade gap has risen 8.8%.

Source: Census Bureau

The Atlanta Fed’s GDPNow forecast for third quarter growth slipped to 2.5% following the release of unemployment data.

The service sector expanded in September at the fastest pace in 12 years, as the ISM non-manufacturing index climbed to 59.8, the highest since August 2005. Measures of new orders and employment gained.

Manufacturing advanced at the fastest pace in 13 years in September, with the ISM manufacturing index rising to 60.8, the highest since May 2004. A gauge of new orders rose, and a gauge of employment rose to the highest level in six years.

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