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.
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.
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| The weekly chart of the S&P 500 index |
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| The daily chart of the S&P 500 index |
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