“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:
Relative Strength Index (RSI)-Positive
Chaikin Money Flow (CMF)-Positive
MACD- Positive
Money Flow Index-MFI-Positive
More on the Market and the Economy:
The S&P 500 edged down on Friday, finishing the week with a .3% loss.
Source: dshort.com
This week data will be released on small business optimism, retail sales, inflation, builder confidence, housing starts and the Fed’s FOMC meeting announcement.
The number of job openings rose to a record high in April, rising to 6.04 million, led by openings at hotels and restaurants. At the same time, hires slipped to 5.05 million, marking a one-year low.
The Atlanta Fed’s GDPNow forecast for second quarter growth dipped to 3% following the release of wholesale trade data.
The service sector expanded in April, as the ISM non-manufacturing index rose to 56.9. A measure of new orders dipped while a measure of employment rose.
Graduation spending was projected to hit a record high this year, rising to $5.6 billion, according to the National Retail Federation. Cash will be the most popular gift, followed by greeting cards and gift cards.
Source: National Retail Federation
Comments