Fund Rankings Update, 8/1/2025

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 declined for the week, driven by negative sentiment from renewed tariff concerns and disappointing economic data.  In addition, the Fed is keeping the interest rates unchanged after concluding its July meeting.  This disappointed investors who were hoping for a rate cut in September, especially after Fed Chair Jerome Powell continued his "wait-and-see" approach.  Inflation data released Wednesday showed that the core personal consumption expenditures (PCE) index rose 0.3% in June, accelerating from 0.2% in May. Year over year, prices increased 2.8%, further away from the Fed's 2.0% target.  On Friday, the Labor Department reported that the U.S. economy added only 73,000 jobs in July, which was significantly lower than expected.  For the week, the S&P 500 lost 2.36% to close at 6238, the Dow Jones Industrial Average fell 2.92%, and the Nasdaq Composite retreated 2.17%. 

The S&P 500 index experienced a severe rejection at the 6400 resistance level.  The index started the week with a record close at 6427 but quickly yielded under consistent selling pressure.  At the end of the week, the index formed a weekly outside bar candlestick pattern signaling increased volatility. The short-term technical picture has turned from bullish to a neutral-to-bearish outlook. The most probable trajectory for the next two weeks is a period of continued consolidation or a deeper correction to retest the 50-day moving average at 6150 and even the 28-week exponential moving average at around 6000. On the upside, it is unlikely for the index to rebound to a new all-time high immediately after such a steep decline.  A convincing rebound would require the index to reclaim the 6300 level, but for now, caution is warranted. 

The weekly chart of the S&P 500 index