The market signals continue to be positive for the most part. The NYSE and Dow both threw signals of possible weakness this week, however, the market has been shrugging off any negativity in the last couple of months so we need to wait and see if the trend will continue.
Have you seen the debate about avocado toast? I find the whole debate rather amusing and I think in some cases people are missing the point. The point being it is very easy to spend a lot of money on small items that when you step back and look at the cost from an annual basis, can add up to a sizable sum. In this case, I don't think it's fair to pick on the millennials. I see a fair number of people from my generation (gen-x) spending money every day on breakfast and lunch, and beer and wine. Yes, we own homes but we were not saddled with the amount of college loan debt as our children. In our case, we are putting off retirement or not saving for retirement with our daily purchase of breakfast and lunch, easily $15 - $20 a day.
My advice? Follow David Bach's approach. Save first with an automatic transfer, then allocate a set amount for important things like catnip! Be choosy, don't blindly spend all your money on silly stuff. This applies to all of us, not just millennials. Now, you'll have to excuse me, I'm going to make some avocado toast. Yum.
The indicators are all positive. The market wants to go higher. Let's look at each. As you can see they are all in positive territory and appears to have shrugged off the little, teeny-tiny dip from last week.
With the French election fears appearing to abate, the stock market rallied yesterday. All my indicators, save the interest rate, are still green. This could be a bounce.
The major indexes are inching down towards their 30 week moving average lines. The market could be entering into a pause and possibly a correction. CNN's Fear & Greed Index is now at Extreme Fear, and the VIX just broke above its 30 week moving average line. See this chart.
All the indicators are technically still green but there are some hints of a correction coming as the major indexes are approaching their 30 week moving average lines. We will look to see if they breach those lines in the next few weeks.
Finviz has some neat heatmaps on their site. It's a great way to see how the market is doing if you like visual tools. I love visual tools!
Stocks continue their upward climb. All indicators are up.
Some possible Stage 2 candidates include:
- VRSN - VeriSign, Inc.
- HD - Home Depot
