Once again, weakness in the early going was short lived as the major indicies (except the DOW) closed in the green. And even the DOW was close to flat.
I suppose the main news item of interest today was the latest FOMC meeting minutes. It didn't have any surprises, but did say the Fed might still tighten monetary policy if the need arose. But for now low interest rates appear to be part of the forseeable future, and especially if the economy worsens or inflation declines. They (the Fed) also felt consumer spending in the first quarter still seemed constrained and that data has shown a greater-than-expected decline in inflation.
No changes to the Seven Sentinels today. Here's the charts:
Still on a buy here.
Same here. Two buy signals.
Ditto
BPCOMPQ continues to ebb higher here too and remains on a buy.
So all seven signals remain on a buy keeping the system on a buy. No reason to bail on stocks if you're a holder. It's possible a meaningful pullback could still be a few weeks away. That's it for this evening. See you tomorrow.
I suppose the main news item of interest today was the latest FOMC meeting minutes. It didn't have any surprises, but did say the Fed might still tighten monetary policy if the need arose. But for now low interest rates appear to be part of the forseeable future, and especially if the economy worsens or inflation declines. They (the Fed) also felt consumer spending in the first quarter still seemed constrained and that data has shown a greater-than-expected decline in inflation.
No changes to the Seven Sentinels today. Here's the charts:
Still on a buy here.
Same here. Two buy signals.
Ditto
BPCOMPQ continues to ebb higher here too and remains on a buy.
So all seven signals remain on a buy keeping the system on a buy. No reason to bail on stocks if you're a holder. It's possible a meaningful pullback could still be a few weeks away. That's it for this evening. See you tomorrow.
