Fund Rankings Update, 1/10/2025

The Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, and sETF have been posted on the "Rankings", and "Trading Logs" pages.

Stocks closed broadly lower as choppy trading continued since the beginning of the year.  A robust jobs report on Friday triggered a sharp decline, with the Dow Jones Industrial Average plunging by 700 points.  Investors grew concerned that the Federal Reserve might halt interest rate cuts due to the strong economic data. Uncertainty surrounding the incoming administration's proposed tariffs also dampened investor sentiment.   For the week, the S&P 500 declined 1.94%, closing at 5827, the Dow Jones Industrial Average fell 1.96%, and the technology-laden Nasdaq composite index decreased 2.34%. 

The S&P 500 Index has been on a five-week decline after reaching a peak of 6100 on December 6th as shown in the weekly chart below. Despite remaining above its 28-week exponential moving average, weakening momentum signals a potential drop below the 5740 support level. The ability of the index to swiftly rebound from this support level will be crucial for the continuation of the rally.  

The weekly chart of the S&P 500 index

Fund Rankings Update, 1/3/2025

The Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, and sETF have been posted on the "Rankings", and "Trading Logs" pages.

Happy New Year!! Stocks closed modestly lower for the holiday-shortened week.  The slump at the beginning of the week was attributed to the year-end profit taking from traders to close 2024.  Indeed, 2024 is the second consecutive year the S&P 500 index recorded more than 20% growth.  For the week, the S&P 500 went down 0.48%, closing at 5942, the Dow Jones Industrial Average fell 0.6%, and the technology-laden Nasdaq composite index decreased 0.51%. 

The S&P 500 Index exhibited lower volatility for the second consecutive week, dipping to 5800 during the week but recovering to close modestly higher above its opening level.  The index remains above its 28-week exponential moving average although its momentum is showing signs of weakening. This consolidation phase is anticipated to persist for another couple of weeks."

The weekly chart of the S&P 500 index