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| Weekly chart of S&P 500 index |
Fund Rankings Update, 8/24/2018
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.
Stocks advanced to record high with tech and energy sector leading the ways. Strong economic fundamental out weighed the political turmoil at the White House. For the week, S&P 500 index closed at 2874 up 0.86%, Dow Jones Industrial Average gained 0.47% and technology laden NASDAQ composite index increased 1.66%.
After four weeks of attempts to break the short term resistance at 2850, S&P 500 finally overcame the resistance decisively and closed at a record high of 2874. As the resistance level is been taken down, we expect the index to keep climbing higher.
Fund Rankings Update, 8/17/2018
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 sETF model portfolio: Sell IEO, Buy IHF
Concern about global economy growth due to Turkish currency crisis weighed on investor sentiment at the beginning of the week. However, stocks got a lift Thursday from news about US and China to resume trade talk in November. For the week, S&P 500 index closed at 2850 up 0.59%, Dow Jones Industrial Average gained 1.41% while technology laden NASDAQ composite index decreased 0.29%.
S&P 500 index made a fourth attempt to break above 2850 resistance level this week. The index has traded between 2800 and 2850 for five weeks. As its momentum is still in the top tier region, we still think the index will move higher. However, we need to pay attention if the index fails to break the 2850 resistance and forms a short term rounded top formation.
A trading signal was issued this week in sETF model portfolio to sell energy sector related index fund, IEO, and buy health care related fund, IHF. Health care related sectors have performed very strongly in the last 4 weeks, which can be seen in both "Select" and "sETF" ranking tables. IEO failed to maintain its momentum longer and we will sell it after holding it for 102 days with a slight loss. Hopefully IHF has a more staying power and can turn into a winning trade.
Concern about global economy growth due to Turkish currency crisis weighed on investor sentiment at the beginning of the week. However, stocks got a lift Thursday from news about US and China to resume trade talk in November. For the week, S&P 500 index closed at 2850 up 0.59%, Dow Jones Industrial Average gained 1.41% while technology laden NASDAQ composite index decreased 0.29%.
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| Weekly chart of S&P 500 index |
A trading signal was issued this week in sETF model portfolio to sell energy sector related index fund, IEO, and buy health care related fund, IHF. Health care related sectors have performed very strongly in the last 4 weeks, which can be seen in both "Select" and "sETF" ranking tables. IEO failed to maintain its momentum longer and we will sell it after holding it for 102 days with a slight loss. Hopefully IHF has a more staying power and can turn into a winning trade.
Fund Rankings Update, 8/10/2018
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.
Done Jones Industrial Average fell 200 points Friday due to collapse of Turkish currency and tariff concern. The sharp drop erased the gain accumulated from the previous four days. Technology sectors and small cap stocks performed better than large cap stocks. For the week, S&P 500 index closed at 2833 down 0.25%, Dow Jones Industrial Average lost 0.59% while technology laden NASDAQ composite index increased 0.35%.
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| Weekly chart of S&P 500 index |
S&P 500 index climbed above the short term resistance of 2850 in mid-week but fail to hold the ground and ended up lower for the week. As discussed last week, we expect the index to break this short resistance due to its high momentum.
Fund Rankings Update, 8/3/2018
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.
Strong company earnings moved the markets higher while trade friction with China had little impact on the markets. For the week, S&P 500 index closed at 2840 up 0.76%, Dow Jones Industrial Average gained 0.05% and technology laden NASDAQ composite index increased 0.96%.
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| Weekly chart of S&P 500 index |
S&P 500 index was traded between 2850 and 2800 for the second week. The index seems to find a support at 2800 but is having trouble breaking above the short term resistance at 2850. However, S&P 500 index is currently only 4% above its 28 week moving average, not over stretching itself. Its weekly momentum is still staying on the high side and looks to be able to carry the index higher.
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