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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- Negative
Money Flow Index-MFI-Positive
More on the Market and the Economy:
The year ended without a Santa Claus rally, with three days of losses after a gain on Tuesday. The S&P 500 closed the week down 1.1%, but finished the month up 1.8%, the quarter up 3.3% and wrapped up the year with a 9.5% gain.
Source: dshort.com
This week data will be released on manufacturing, construction spending, the Fed’s FOMC meeting minutes and the jobs report.
Consumer confidence climbed in December to the highest since 2001, as the Conference Board’s index rose to 113.7. According to the Conference Board, “the post-election surge in optimism for the economy, jobs and income prospects, as well as for stock prices which reached a 13-year high, was most pronounced among older consumers. Consumers’ assessment of current conditions, which declined, still suggests that economic growth continued through the final months of 2016”.
Pending home sales slipped 2.5% in November to the lowest level in almost a year. According to the National Association of Realtors, “the budget of many prospective buyers last month was dealt an abrupt hit by the quick ascension of rates immediately after the election. Already faced with climbing home prices and minimal listings in the affordable price range, fewer home shoppers in most of the country were successfully able to sign a contract”.
As we mark the start of the new year, the Census Bureau projected the U.S. population on January 1st would be 324,310,011, an increase of 2,245,347, or 0.70%, from New Year’s Day 2016. And the world population was projected to be 7,362,350,168, an increase of 77,849,375, or 1.07%, from New Year’s Day 2016.
And as we kick off 2017, a few investing tips from the SEC:
Investor Bulletin: 10 Investment Tips for 2017
1. Always check the background of an investment professional—it is easy and free. You can find details of an investment professional’s background and qualifications through the search tool on the SEC’s website for individual investors, Investor.gov. If you have any questions about checking the background of an investment professional, you can call our toll-free investor assistance line at (800) 732-0330 for help.
2. Promises of high returns with little or no risk are classic warning signs of fraud. Every investment carries some degree of risk and the potential for greater returns often correlates with greater risk. Ignore so-called “can’t miss” and “guaranteed risk-free” investment opportunities. Better yet, report them to the SEC.
3. Be careful when using social media as an investment tool. Social media and the Internet have become important tools for investors, but also present opportunities for fraudsters to lure investors into a wide range of scams. For additional information on ways to avoid fraud through social media, please read our bulletin on Social Media and Investing.
4. It can be costly to ignore fees associated with buying, owning, and selling an investment product. Expenses vary from product to product, and even small differences in costs can mean large differences in earnings over time. An investment with high costs must perform better than a low-cost investment to generate the same returns. Read our bulletin on How Fees and Expenses Affect Your Investment Portfolio to learn more.
5. Be alert to affinity fraud. Affinity frauds target members of identifiable groups, such as the elderly, religious or ethnic communities, or the military. Even if you know the person making the investment offer, be sure to check out the investment and the person’s background—no matter how trustworthy the person seems.
For the complete list of tips, visit www.sec.gov .