Fund Rankings Update, 9/23/2016

Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted in "Rankings", "Trading Logs" pages, and  http://ycprankings.awardspace.us/RankingTables.htm.

Encouraged by Fed's decision not to raise interest rate in September and its dovish attitude toward the expected coming rate hike, stocks headed higher for the second week.  For the week S&P 500 index closed at 2164, up 1.19%, Dow Jones Industrial Average gain 0.76% while technology laden NASDAQ composite index increased 1.17%.

Weekly chart of S&P 500 index

S&P 500 index continued to rebounded from its 28 week moving average support for the second week. The index opened at 2144, reached the 2175 resistance area in mid week, and settled back down at 2165. Continuation of this rally requires a successful breaking of the 2175 resistance level.  As the first try has failed but still within striking distance, we will find out in the coming weeks the outcome of the second try. 

Fund Rankings Update, 9/16/2016

Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted in "Rankings", "Trading Logs" pages, and  http://ycprankings.awardspace.us/RankingTables.htm.

Weaker retail sale and industrial production coupled with higher consumer price index eased investor's nervousness about interest rate hike in September and pushed stocks modestly higher.  For the week S&P 500 index closed at 2139, up 053%, Dow Jones Industrial Average gain 0.21% while technology laden NASDAQ composite index increased 2.31%.

Weekly chart of S&P 500 index

S&P 500 index rebounded a bit from its 28 week moving average support level as seen the weekly chart. Its STO momentum indicator has fallen out of over bought area and heading lower. The consolidating around its 28 week moving average may continue for another couple of weeks.

We have observed sector rotation in the past few weeks in the sETF and SELECT ranking tables. The energy related sectors have fallen out of favor while technology sectors have moved up the ranks. If the rotation continues, it will be reflected in our sETF and SELECT model portfolio tradings. 

Fund Rankings Update, 9/9/2016

Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted in "Rankings", "Trading Logs" pages, and  http://ycprankings.awardspace.us/RankingTables.htm.

Dow Jones Industrial Average plunged more than 350 points on Friday due to jittery about interest rate hike. The one day plunge ended the flat trading for the last 7 weeks and handed stock markets the largest weekly loss since the beginning of the year. For the week S&P 500 index closed at 2127, down 2.39%, Dow Jones Industrial Average lost 2.2% and NASDAQ composite index decreased 2.36%.

Weekly chart of S&P 500 index

Instead of waiting for 28 week moving average to catch up, S&P 500 index plunged to meet the support as seen the weekly chart. Last week, we talked about S&P 500 index forming a rounded top pattern and expected consolidation phase to continue. As the index is near its support, we need to see how it reacts to the support level in the next two weeks to make judgement about its intermediate direction.

Fund Rankings Update, 9/2/2016

Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted in "Rankings", "Trading Logs" pages, and  http://ycprankings.awardspace.us/RankingTables.htm.

Trading signal occurs in RSP model portfolio: Sell FNMIX, Buy 42625

In this light trading week before the labor day weekend, stocks managed to eked out a little gain with mixed economic data.  Consumer expending increased for the fourth month in July while job growth failed to meet expectation. For the week S&P 500 index closed at 2179, up 0.5%, Dow Jones Industrial Average gained 0.52% and NASDAQ composite index increased 0.59%.

Weekly chart of S&P 500 index

Although S&P 500 index closed higher this week, it is forming a rounded top pattern in the weekly chart. We expect the consolidation will continue as the index is waiting for the moving average to catch up.

A trading signal occurs this week in RSP model portfolio. The momentum ranking of Fidelity new market income fund, FNMIX, was pushed out of the holding threshold of 7th rank. The fund was replaced with the current #1 rank fund, SS emerging market index (42625).  We have held FNIMX for 137 days with a gain of 7.41%.