Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted at http://sites.google.com/site/ycprankings
Even the collapse of Apple's stock price after disappointing iPhone 5 sales last quarter, did not stop general stocks to continue making new high. SP 500 index closed the week at 1502, up 1.14%, Dow Jones Industrial Average gained 1.8%, and Nasdaq composite increased 0.48%.
S&P 500 index is right at the psychological barrier of 1500. With strong momentum on its back, the index should have no problem breaking the resistance and continue its march.
Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted at http://sites.google.com/site/ycprankings
Stocks continued their uptrend with S&P 500 index making a all time high in 5 years. SP 500 index closed the week at 1485, up 0.95%, Dow Jones Industrial Average gained 1.2%, and Nasdaq composite increased 0.29%.
With increasing momentum, stocks continued to advance higher. The next resistance level for S&P 500 index is the psychological barrier at 1500. We may see some hesitation at that level in the next couple of weeks but I do not expect it to be a major hurdle to this strong rally.
Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted at http://sites.google.com/site/ycprankings
Stocks took a break after big gain last week. S&P 500 index closed the week at 1472, up 0.38%. Dow Jones Industrial Average gained 0.4%, and Nasdaq composite increased 0.77%.
Earning season started Tuesday after ALCOA reported its upbeat quarterly earnings. So far companies have been reporting better than expected earnings with brighter outlook. Technically, S&P 500 index stays the same as last week: momentum is getting higher and price is trending upward. With good fundamental and technical backdrop, the rally is expected to continue for at least another few weeks.
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 HSA model portfolio: Sell JLVIX, Buy TGVAX.
Trading signal occurs in iETF model portfolio: Sell EWH, Buy EWO.
New year brings new hope. Congress passed the limited tax deal to avoid the fiscal cliff on January 1, and stocks had a big rally the next day. S&P 500 index closed the first trading week of the year at 1466, up 4.57%. Dow Jones Industrial Average gained 3.84%, and Nasdaq composite increased 4.77%.
As shown in the weekly chart below, S&P 500 index is gaining momentum and the trending upward. The rally is expected to continue for a while. Cyclical sectors such as automotive and transportation have been strong due to stable energy prices and brighter economy outlook. In the international front, China is recovering and Europe's debt crisis seems to be under control for now. Let's hope 2013 be a good year for stock markets.
