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.
Major indices closed mixed this week with the Dow Jones Industrial Average as the only index to see gains. The S&P 500 and Nasdaq Composite both ended the week in the red. Several factors influenced investor sentiment this week. Positive earnings reports from tech giants Meta and Apple provided some optimism, while in-line core inflation data suggested that the Federal Reserve's efforts to combat inflation may be working. However, concerns about tariffs and the emergence of a lower-cost AI model from China led to a sell-off in tech stocks. For the week, the S&P 500 fell 1.0%, closing at 6040, the Dow Jones Industrial Average rose 0.27%, while the technology-laden Nasdaq composite index declined 1.64%.
The S&P 500 pulled back from the key resistance level of 6100. This follows a significant recovery after a Deep Seek AI related sell-off earlier in the week, with the index now stabilizing around 6000. As seen on the weekly chart, this period of consolidation has been ongoing for the past three months. With the index maintaining its upward trend and strong momentum, a breakout toward the 6220-6300 price range is expected once this consolidation phase concludes.
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| The weekly chart of the S&P 500 index |
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