YCP ETF and Mutual Fund Rankings: October 2024

Fund Rankings Update, 10/25/2024

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

Stocks took a pause after six weeks of consecutive gains with Large-cap stocks and growth stocks outperforming the small-caps and value stocks. Rising long-term treasury yields were the culprit as investors shifted to a shallower rate-cutting expectation due to stronger-than-expected economic growth and a slower decline in inflation. The S&P 500 lost 0.96% for the week, closing at 5808, the Dow Jones Industrial Average dropped 2.68%, while the technology-laden Nasdaq composite index increased 0.16%.

The S&P 500 index has shown continued strength, trading near the upper boundary of its recent range. While we anticipate periods of sideways movement or minor corrections, the index's position above its 28-week exponential moving average and its strong momentum signal a positive outlook for the near future.

The weekly chart of the S&P 500 index

Fund Rankings Update, 10/18/2024

Trading signal occurs in ETF model portfolio: Sell IYR, Buy FXI.

Stocks advanced higher with the S&P 500 index reaching another record level. The advancements were led by the utility and real estate sectors with small-cap and mid-cap stocks outperforming the general market. Despite a lighter week of economic news, positive signs emerged. The September retail sales, released on Wednesday, went up 0.4% much higher than the 0.1% registered in August, and the weekly initial jobless claims fell unexpectedly to 241,000. For the week, The S&P 500 gained 0.85%, closing at 5864, the Dow Jones Industrial Average advanced 0.96%, and the Nasdaq composite index increased 0.8%.

The S&P 500 index continued its upward trajectory, reaching a new all-time high near the upper boundary of its trading channel. Given the index's strong momentum, we anticipate the bullish trend to persist. However, it's important to note that short-term pullbacks or periods of sideways consolidation are likely to occur.

The weekly chart of the S&P 500 index

Fund Rankings Update, 10/11/2024

Trading signal occurs in HSA model portfolio: Sell DZCRX, Buy CSFZX.

Stocks climbed to new heights, with both the S&P 500 and Dow Jones Industrial Average reaching record levels. The positive earnings reports from JPMorgan Chase and Wells Fargo marked the beginning of the third-quarter earnings season. However, inflation proved to be persistent, as the September core CPI increased by 0.3% month-over-month, exceeding expectations of 0.2%. Additionally, the September core PPI rose 0.2% as anticipated. This unexpected rise in inflation dashed investors' hopes for a more aggressive 0.5% interest rate cut by the Federal Reserve in November. Instead, the market is now leaning towards a more moderate 0.25% rate reduction. For the week, The S&P 500 gained 1.11%, closing at 5815, the Dow Jones Industrial Average advanced 1.21%, and the Nasdaq composite index increased 1.13%.

The S&P 500 advanced to another record high, fueled by strong momentum. The index has maintained an upward trend for five consecutive weeks. While a minor pullback or sideways consolidation might be expected, our overall positive outlook for the S&P 500 remains unchanged.

The weekly chart of the S&P 500 index

Fund Rankings Update, 10/4/2024

Trading signal occurs in SELECT model portfolio: Sell FBIOX, Buy FSTCX.

Stocks closed the week with modest gain and continued its winning streak for the fourth week. Tension in the Middle East sent the oil prices higher and the dockworkers' strike at the Eastern seaport also weighed on investors sentiment. However, investors found positive support Friday as the Labor Department released that the US added 254,000 nonfarm payrolls in September nearly double the expectation, which indicated that the FED may have successfully engineered a soft landing scenario. For the week, The S&P 500 gained 0.22%, closing at 5751, the Dow Jones Industrial Average advanced 0.09%, and the Nasdaq composite index increased 0.1%.

The S&P 500 index has sustained a steady upward trend. As illustrated in the daily chart, the index successfully retested its 20-day Exponential Moving Average (EMA) on both Wednesday and Thursday. This pattern presents attractive buying opportunities for investors seeking short-term gains from the ongoing market rally, as previously discussed in our blogs.

The weekly chart of the S&P 500 index

The daily chart of the S&P 500 index