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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- Negative

  4. Money Flow Index-MFI-Negative

More on the Market and the Economy:

Stocks closed modestly higher on Friday following a disappointing jobs report, as the market weighed whether the Fed would hold off on a rate hike at this month’s meeting.


This week data will be released on the service sector, consumer credit, the Job Openings and Labor Turnover Survey and the Fed’s Beige Book.

Job growth slowed in August, as the economy added 151,000 jobs while the unemployment rate held steady at 4.9% and the labor force participation rate stood at 62.8%. So far this year, the economy has created an average 182,000 jobs per month.

The trade deficit shrank to $39.5 billion in July, as exports rose to $186.3 billion while imports slipped to $225.8 billion.

Source: Census Bureau

The Atlanta Fed’s GDPNow model forecast for third quarter growth stands at 3.5% following the release of international trade data.

After slipping in June, pending home sales rose 1.3% in July to reach the second highest level in a decade. According to the National Association of Realtors, “more home shoppers having success is good news for the housing market heading into the fall, but buyers still have few choices and little time before deciding to make an offer on a home available for sale. There’s little doubt there’d be more sales activity right now if there were more affordable listings on the market”.

Manufacturing slowed in August, with the ISM manufacturing index slipping to 49.4%, marking a 7-month low, as measures of new orders and employment declined.


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