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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- Positive
Money Flow Index-MFI-Positive
More on the Market and the Economy:
Stocks ended higher on Friday amid data on jobs and manufacturing, and the S&P 500 posted a 1.8% gain for the week – the biggest weekly gain in a month.
Source: dshort.com
This week data will be released on factory orders, the service sector, the trade deficit and the Fed’s FOMC meeting minutes.
The economy created 215,000 jobs in March, while the unemployment rate notched up to 5% as more people entered the workforce. The labor force participation rate rose to 63% – the highest level in two years.
In March, retailers added 48,000 jobs, construction companies added 37,000 and health care providers added 37,000. Manufacturing firms cut 29,000 jobs.
The Atlanta Fed’s GDPNow model is forecasting growth of .7% for the first quarter, up from .6% after the release of data on construction spending.
Americans didn’t do too much spending at the start of the year, as consumer spending inched up .1% in February, matching January’s gain, instead pocketing more money as the savings rate rose to 5.4% – matching a one-year high.
Manufacturing expanded in March for the first time in six months, as the ISM manufacturing index rose to 51.8%. Measures of new orders and production increased for the third straight month.
The nation’s 65+ population is projected to almost double over the next three decades, growing from 48 million to 88 million in 2050, while the global 65+ population will more than double to 1.6 billion. In 2015, the US ranked 48th oldest out of 228 countries.
