Fund Rankings Update, 5/2/2025

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.

Trading signal occurs in RSP model portfolio: Sell 42626, Buy 05069.

Trading signal occurs in FEMKX timing system: Sell Cash, Buy FEMKX.

Fueled by ongoing trade war de-escalation and strong tech earnings, major indices climbed for a second consecutive week. Despite a 0.3% contraction in Q1 US GDP—the first since 2022, driven by decreased consumer and government spending—the economy showed resilience with April's robust job growth of 177,000, exceeding the anticipated 135,000. For the week, the S&P 500 gained 2.92% to close at 5686, the Dow Jones Industrial Average rose 3.0%, and the Nasdaq Composite surged 3.42%.

Having closed the week at 5686, the S&P 500 finds itself precisely at its critical 28-week exponential moving average. As previously highlighted, this level represents a significant resistance point that will likely dictate the index's near-term trajectory. Notably, the S&P 500 experienced rejection at this same EMA during the week of March 24th. Looking ahead to the next couple of weeks, a decisive break and sustained trading above 5686 could signal the end of the recent bearish pullback and the potential resumption of a bullish trend. Conversely, another rejection at this EMA could lead to a downward move, with a potential retest of the 5000 support level. The behavior of the index around this key moving average will be closely monitored over the coming two weeks for directional clues.   

The weekly chart of the S&P 500 index