Retail sales in March were pretty much in line with expectations, up to 1.1% from the prior month’s gain of 0.7%.
EMPIRE STATE MANUFACTURING SURVEY (NY Fed)
The Briefing.com consensus was for a reading of 7.5 up from 5.6 the previous month. 1.3 is a bad print.
“…It is not what an individual needs that is the issue. Take all the money away from Bill Gates. How will this improve your life at all? The issue is HOW MUCH is government consuming. But as long as they point to the “rich” they get to waste your money…The solution is NOT to raise taxes on the rich, for government will still spend more than it takes in regardless of who pays…It is taxes that we must address – not how much someone else makes.” Commentary at…
VIX was DOWN about 3% to 15.61.
The yield on the 10-year Treasury Note was down slightly to 2.62% at the close.
Tuesday the S&P 500 had another strong close late in the day. Jeepers! The markets keeps going up and the NYSE market internals keep getting worse. I think the index will break down soon and may not have the blow-off of a 1%-day at 1850.
I increased my stock allocation to 50% invested in stocks on 26 March because of the NTSM indicators turned positive Monday (24 Mar) at the close. I am watching closely to see if it is time to reduce my long-term stock holdings. An NTSM sell-signal along with a break of the trend line would convince me.