Friday, February 19, 2016

Market Direction Weekly Closing Numbers



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The economy

While housing reports, which included the housing market index and starts, cooled off a bit in January, they still continue to stay at levels consistent with a healthy economy. Other reports released this week included the producer price index and the consumer price index, which both pointed to higher-than-expected prices.

It is very refreshing to start this section with the comment that the technical picture has actually improved a bit this week. While the market has a long way to go to be “out of the woods” this past week was not only the best week so far in 2016, but the 3-day rally (2/12 through 2/17) was the strongest since mid-December 2014. Given that move, it should not be too surprising that there was some profit taking on Thursday (2/18) and Friday (2/19).

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By the numbers the weekly closing index numbers compared to the initial sign-up and subscribe recommendation closing numbers: 

Stock Market Closing Numbers 
compared to Recommendation Numbers

Variance
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