The market continues to creep upward, with the short-term trend clearly positive albeit on quite low volume. The S&P 500 remains above its 50-day and 200-day moving average, but as we head into the current week, our concern is about conviction within the marketplace. The ECRI (Economic Cycle Research Institute) finally gave a positive uptick last week, but it would be early to conclude that we’re on a strong uptrend. Read more about What the Market Wants: Waiting for FOMC
The recent release of the PPI index, and specifically the core PPI, has sparked some interest into how it relates to stock market returns. Calafia Beach Pundit thinks that the