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.
Trading signal occurs in ETF model portfolio: Sell IGV, Buy FXI
Trading signal occurs in RSP model portfolio: Sell ARGFX, Buy FCNTX
Stocks closed lower as President Trump announced his intention for additional 25% tariffs on automobiles, pharmaceuticals, and chips. Economic data suggesting a slowing economy further dampened investor confidence. The S&P Global flash Composite Purchasing Managers’ Index (PMI) reached a 17-month low of 50.4, with the service PMI at 49.7 (readings above 50 indicate expansion, while those below 50 signal contraction). For the week, the S&P 500 fell 1.66%, closing at 6013. The Dow Jones Industrial Average and the Nasdaq composite index both decreased by 2.51%.
The S&P 500 pulled back below the 6090 resistance level after briefly reaching a record high of 6147. Crucially, the index failed to close above 6128, a level needed to confirm a continued uptrend. The index remains in a sideways consolidation pattern, bounded by support at 5850 and resistance at 6090. A breakout above the resistance or below the support will determine the index's future direction.
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| The Weekly Chart of the S&P 500 index |
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