Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted at http://sites.google.com/site/ycprankings
Trading signal occurs in iETF model portfolio: Sell INP, Buy EWH.
Relief that two sides of the political spectrum may be willing to compromise to avoid "Fiscal Cliff" and a technical rebound powered S&P 500 index back above 1400. The index closed the week at 1409, up 3.62%. Dow Jones Industrial Average gained 3.35%, and Nasdaq composite increased 3.99%.
Black Friday appeared to give retailers some hope for this holiday season. However, the coming weeks will be all about "Fiscal Cliff" and to some extend, Europe's debt crisis. Whether congress and officials can rise to the challenge will greatly influence the direction of the markets.
Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted at http://sites.google.com/site/ycprankings
Trading signal in FEMKX timing system: Sell FEMKX, Buy Cash (or income fund).
Investors' sentiment is very negative. S&P 500 failed to hold its critical 1370 support and 200 day moving average. The index closed the week at 1359, down 1.45%. Dow Jones Industrial Average lost 1.77%, and Nasdaq composite decreased 1.78%.
The momentum indicator of FEMKX (STO [15,1]) fell below 75 and a sell signal was issued for FEMKX timing system.
Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted at http://sites.google.com/site/ycprankings
There was no celebration after presidential election on Wall street. Investors turn their attention right on the "fiscal cliff" and fear of the replay of the political gridlock last year. S&P 500 index closed the week at 1379, down 2.43%. Dow Jones Industrial Average lost 2.12%, and Nasdaq composite decreased 2.59%.
SP 500 index has fallen below the minor support of 1400, and is testing the support at 1370 level. Holding this support level is very important as it is also near the 200 day moving average. The best scenario for the index is to find a support at this level for the next couple of weeks and rebound from here. However, as the momentum of the index is deteriorating, it will take a lot of good news to reverse the slide.
Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted at http://sites.google.com/site/ycprankings
Trading signal occurs in ETF model portfolio: Sell IBB, Buy EWW.
Stocks tried to stage a rebound this past week but late selling Friday afternoon wiped out all the gain from Wednesday and Thursday. S&P 500 index closed the week at 1414, up 0.16%, Dow Jones Industrial Average lost 0.11%, and Nasdaq composite decreased 0.19%.
SP 500 index closed this week near its short term support of 1400 again. In the weekly chart below, the index has broken its rising trend line although it is still above its 28 week moving average. A few weeks ago, I have pointed out that there is a minor support at 1400 and a stronger support at around 1370. Holding the support is key for trend continuation. Next Tuesday is the presidential election, it will be very interesting to see how markets react to the election outcome.
This week, ETF model portfolio has issued a trading signal to sell biotech index, IBB, and buy Mexico index fund, EWW. We can see from the ranking table that the momentum of international funds have gotten stronger while momentum of US sectors (except home construction sector) have gotten weaker in the past two weeks. We have held IBB for 290 days with a gain of 15.56%.
