YCP ETF and Mutual Fund Rankings: March 2022

Fund Rankings Update, 3/25/2022

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

Stocks continued its rebound as investors digesting the progress or war situation in Ukraine. Information technology, material and energy sectors outperformed the market while healthcare lagged behind. For the week, S&P 500 index went up 1.79% to 4543, Dow Jones Industrial Average gained 0.31%, and the technology laden NASDAQ composite index increased 1.98%.

S&P 500 index closed the weekly solidly above its 28 week EMA overcoming the first hurdle to resume its up trend. As discussed in the blog last week, the next step is for the index to break above the 4600 resistance and the 4800 all time high psychology barrier afterwards. With the pickup in the momentum indicator STO[15,1], the scenario may well plays out in the next few weeks.

Weekly Chart of S&P 500 Index

Fund Rankings Update, 3/18/2022

Stocks closed sharply higher with falling oil prices and outcome from FED to hike interest rate by a quarter percentage point. Continued negotiation between Russia and Ukraine to end the war also boosted investor confidence. For the week, S&P 500 index went up 6.16% to 4423, Dow Jones Industrial Average gained 5.5%, and the technology laden NASDAQ composite index increased 8.18%.

S&P 500 index rebounded once more from its 4200 support level and closed the week right above its 28 week EMA of 4452. We have discussed this scenario in the blogs two or three weeks ago. In order for the index to resume its uptrend, it has to first climb above the trend line (28 week EMA) resistance and secondly break above the 4600 resistance. Now that the first step has been completed and with the uncertainty from Fed's first interest rate hike behind us, we could see the index consolidating a couple weeks around the 28 week EMA after the sharp move and then challenge the 4600 resistance or even the 4800 all time high.

Weekly chart of S&P 500 index

Fund Rankings Update, 3/11/2022

Trading signal occurs in SSPP model portfolio: Sell FGRIX, Buy FICDX

Stocks closed lower as Russian invasion of Ukraine continued for another week. Elevated inflation due to surging commodity prices dominated investor sentiment while weekly jobless data came in inline with the expectation. For the week, S&P 500 index went down 2.88% to 4204, Dow Jones Industrial Average lost 1.99%, and the technology laden NASDAQ composite index decreased 3.53%.

S&P 500 index closed at 4204, right above its 4200 support level. Its momentum indicator continued to trend downwards in the weekly chart below. Next week, the Fed will hold its open market committee meeting on Tuesday and Wednesday. It is expected that the Fed will hike the interest rate a quarter point for the first time since 2018 to start its tightening cycle. It will be interesting to see how investors react to Fed's move and its projection for the rest of the year.

Weekly chart of S&P 500 index

Fund Rankings Update, 3/4/2022

Stocks closed lower with heighten volatility due to Ukraine crisis. Technology, financials, consumer discretionary, and communication services sectors suffered the most while energy sector performed the best with oil prices shot up to $120 per barrel. For the week, S&P 500 index went down 1.27% to 4328, Dow Jones Industrial Average lost 1.3%, and the technology laden NASDAQ composite index decreased 2.78%.

S&P 500 index made an attempt to reclaim the 28 week EMA mid-week, but failed to break above the trendline and closed the week lower than where it started. In order to complete the double bottom formation, the index has to break its 28 week EMA first and then 4600 resistance as we have discussed in the blog last week. We will continue to monitor the price action in the next few weeks.

Weekly chart of S&P 500 index