Fund Rankings Update, 6/23/2017

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.

Energy stocks entered bear market territory while bank, health care and technology stocks showed some strength.  For the week, S&P 500 index closed at 2438, up 0.21%, Dow Jones Industrial Average gained 0.05% and NASDAQ composite index increased 1.84%.

Weekly chart of S&P 500 index

S&P 500 index has been trading in a narrow range near the top of the trading channel for the past 3 weeks. While its momentum is still in the high gear, we may see some healthy pulled back in the coming weeks. The overall uptrend is still intact and no major direction change is expected.  

Fund Rankings Update, 6/16/2017

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.

It was a typical summer trading week. Federal Reserve raised interest rate as expected while US retail sales came in weaker than expected. As sell-off in technology sector continued, NASDAQ composite index lagged the other major indices.  For the week, S&P 500 index closed at 2433, up 0.06%, Dow Jones Industrial Average gained 0.53% and NASDAQ composite index decreased 0.9%.

weekly chart of S&P 500 index

S&P 500 index eked out a small gain in the face of sell-off in technology sector. In the sETF and SELECT ranking tables, we can see the short term momentum indicator (SMI) of the software and computer related sectors has decreased in the last two weeks. Money rotated out of the technology sectors went into defensive sectors like health care , medical device and utility. With major indices, especially NASDAQ, over-extended themselves in May, we may see consolidation similar to the one in March and April continues. 

Fund Rankings Update, 6/9/2017

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 SELECT model portfolio: Sell FDCPX, Buy FSPTX

Without major economic news, it was a typical quiet summer trading week till Friday. Sell off in leading technology companies pulled NASDAQ composite index more than 100 points in a day, while S&P 500 index and Dow Jones Industrial Average closed the day flat.  For the week, S&P 500 index closed at 2431, down 0.3%, Dow Jones Industrial Average gained 0.31% and NASDAQ composite index decreased 1.55%.

Weekly chart of S&P 500 index

Even with sharp drop in prices of leading technology companies due to profit taking on Friday, S&P 500 still stays the course marching higher with high momentum.  Outlook for S&P 500 index remains positive, as there is no deterioration in its technical picture.

Fund Rankings Update, 6/3/2017

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.

US job report showed increase of only 138,000 jobs in May, lower than expectation but major stock indices still trending higher.  For the week, S&P 500 index closed at 2439, up 0.96%, Dow Jones Industrial Average gained 0.6% and NASDAQ composite index increased 1.54%.

Weekly chart of S&P 500 index

S&P 500 index first reached the intra-week high of 2400 in February. After struggling for 11 weeks and several attempts, it finally closed above the 2400 resistance last week and advanced even higher this week. With the resistance behind its back, we expect the index to continue the uptrend and climb higher.