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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)-Negative
Money Flow Index-MFI-Positive
More on the Market and the Economy:
After a rally in the wake of the election, the S&P 500 closed slightly lower on Friday. The index finished the week with a 3.8% gain – the biggest weekly gain since 2014.
This week data will be released on industrial production, retail sales, housing starts and the Conference Board’s leading economic indicators.
Small business sentiment picked up in October as the NFIB optimism index rose to 94.9, despite the fact that business owners say they are facing “record levels of uncertainty”. According to the NFIB, “small business owners, who create most new jobs and employ 58 million Americans, are struggling with high taxes, ball-and-chain regulations, and spiraling health insurance costs”.
Among the index’s components, five logged gains, two were unchanged and three posted declines.
The number of job openings rose in September, with 5.49 million available jobs according to the Job Openings and Labor Turnover Survey. The hiring rate dipped slightly with 5.1 million hires, while 3.1 million people quit their jobs.
The Atlanta Fed’s GDPNow model forecast for fourth quarter growth stands at 3.1% following the release of the wholesale trade report.
As Friday marked Veteran’s Day, an infographic on the percentage of veterans among the adult population:
From the Census Bureau, some statistics:
The number of military veterans in the United States in 2015.
The number of female veterans in the United States in 2015.
The percentage of veterans in 2015 who were black.
The percentage of veterans in 2015 who were Hispanic.
The number of veterans age 65 and older in 2015. At the other end of the age spectrum, 1.6 million were younger than age 35.
When They Served
The number of Vietnam Era veterans in 2015. Moreover, there were 5.6 million who served during the Gulf War (representing service from August 1990 to present); 930,000 who served in World War II; 1.8 million who served in the Korean War; and 4.3 million who served in peacetime only”.
And an infographic on veteran-owned businesses in the US: