Fund Rankings Update, 10/9/2026

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 shook off a midweek AI scare to finish the week higher, with Friday's broad rally capping a week in which the S&P 500 notched its first-ever close above 7,800. The week's biggest drama came Thursday, when a Financial Times report that OpenAI's annualized revenue was running near $50 billion — roughly $20 billion below the figure previously signaled — triggered the Nasdaq's worst one-day drop since mid-August, a 1.25% slide, and a 3.4% plunge in the Philadelphia Semiconductor Index. Tech recovered Friday after Bloomberg reported that OpenAI expects to reach or exceed the $70 billion mark by year-end. Also rattling portfolios was an $8 billion SpaceX spectrum deal that crushed telecom shares — T-Mobile fell 13.3% in its worst day since 2013, with AT&T and Verizon down 9.8% and 8.7% — while sending tower operators sharply higher. Meanwhile, the 10-year Treasury yield touched 5.36% midweek, a 24-year high, after minutes from the Fed's September meeting showed most officials expect another rate hike by year-end, and Brent crude climbed above $104 on Strait of Hormuz tanker attacks and a Category 2 hurricane that forced producers to halt 63% of Gulf of Mexico oil output. For the week, the S&P 500 gained 1.2% to close at 7,812, the Dow Jones Industrial Average gained 0.9% to finish at 51,655, while the tech-heavy Nasdaq Composite extended its winning streak to four weeks, rising 0.6% to settle at 27,366.

From a technical perspective, the S&P 500's weeks-long high-level digestion base resolved to the upside, with Tuesday's first-ever close above 7,800 and Friday's record close of 7,812 eclipsing the August 13 record close of 7,799. The index stayed above its rising 10- and 20-day EMAs throughout the week, finishing roughly 1% above the 20-day line near 7,725, with the averages constructively stacked in a 20-over-50-over-200 configuration and the 50-day EMA near 7,665. The August 14 intraday record of 7,817 remains the immediate overhead hurdle, and a clean break above it would confirm the breakout and re-ignite the primary uptrend toward our 7,850 target, with the 8,000 psychological level in play on an extended move. On the downside, the 7,600 zone continues to serve as immediate technical support, backed by our primary structural floor at 7,500. With the S&P 500 settling at 7,812, our long-term structural trend-following indicators remain firmly in a "Hold" posture with no sell triggers fired. 

The weekly chart of the S&P 500 index

Fund Rankings Update, 10/2/2026

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 finished a volatile week on a strong note, as Friday's surprisingly weak September jobs report cooled fears that the Federal Reserve would raise interest rates again at its late-October meeting. The 10-year Treasury yield touched a fresh 24-year high of 5.35% earlier in the week, keeping pressure on rate-sensitive corners of the market, but payrolls of just 29,000 — far below the roughly 90,000 expected — slashed the market-implied odds of an October hike from nearly two-in-three a week ago to about one-in-five. Technology and AI-related names led Friday's rebound, with Nvidia reaching a new all-time high and Tesla jumping 4.6% on better-than-expected third-quarter deliveries. For the week, the S&P 500 slipped 0.3% to close at 7,723, the Dow Jones Industrial Average fell 1.3% to finish at 51,177, while the tech-heavy Nasdaq Composite bucked the trend, rising 0.5% to settle at 27,191.

From a technical perspective, the S&P 500 remained firmly in its high-level digestion base, closing within 1% of its August record high despite Thursday's spike in long-term yields to their highest levels in 24 years. The index finished the week above its 20-day EMA near 7,680 and its 50-day EMA near 7,638, with the averages positively aligned in a constructive 20-over-50-over-200 configuration, and Friday's close sat above the 7,692 volume-profile high, keeping buyers in control of the intermediate trend. A decisive breakout above the August 13 record of 7,799 would re-ignite the primary uptrend toward the 7,850 target, with the 8,000 psychological level in play on an extended move. On the downside, the 7,600 zone continues to serve as immediate technical support, backed by our primary structural floor at 7,500. With the S&P 500 settling at 7,723, our long-term structural trend-following indicators remain firmly in a "Hold" posture with no sell triggers fired.

The weekly chart of the S&P 500 index

Fund Rankings Update, 9/25/2026

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 Select model portfolio: Sell FBIOX, Buy FSCSX

Stocks snapped a two-week losing streak and finished higher this week, as a Friday rebound in technology shares offset pressure from surging Treasury yields and volatile oil prices. The bond market was the week's dominant theme, with the 10-year Treasury yield touching 5.228% — its highest level since 2007 — on hawkish Federal Reserve rhetoric and resilient economic data, while the 30-year yield broke above 5.5% for the first time in 22 years. Oil prices spiked midweek on U.S.–Iran tensions surrounding the Strait of Hormuz before pulling back Friday on reports of a possible phased deal to reopen the waterway. Chipmakers and mega-cap software names led the recovery, with Microsoft closing up nearly 4% on Friday. For the week, the S&P 500 gained 1.21% to close at 7,743, the Dow Jones Industrial Average gained 0.28% to finish at 51,829, while the tech-heavy Nasdaq Composite outperformed, rising 2.06% to settle at 27,069.

From a technical perspective, the S&P 500 extended its high-level digestion base, closing within 0.7% of its August record high despite midweek pressure from historic bond yields. The index held comfortably above its short-term 10-day and 20-day EMAs throughout the week, and Friday's push carried it into the 7,720–7,750 overhead supply zone, keeping buyers in control of the intermediate trend. A decisive weekly close above the August 13 record of 7,799 would re-ignite the primary uptrend toward the 7,850 target. On the downside, the 7,600 zone continues to serve as immediate technical support, backed by our primary structural floor at 7,500. With the S&P 500 settling at 7,743, our long-term structural trend-following indicators remain firmly in a "Hold" posture with no sell triggers fired.

The weekly chart of the S&P 500 index

Fund Rankings Update, 9/18/2026

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 delivered a mixed, range-bound performance this week, with major indices showing marked dispersion as investors weighed the first rate hike from the Fed since 2003. Rising oil prices from the escalation of conflict in the Middle East and rising Treasury yields also weighed on stock prices.  However, early-week caution gave way to a targeted technology rally, propelled by mega-cap software and semiconductor names that absorbed broader interest-rate anxiety. For the week, the S&P 500 slipped a modest 0.08% to close at 7,650, the Dow Jones Industrial Average dropped 1.69% to finish at 51,682, while the tech-heavy Nasdaq Composite outperformed, rising 0.72% to settle at 26,522.

From a technical perspective, the S&P 500 continued to build a high-level digestion base, holding within striking distance of its recent consolidation range despite mid-week intraday pressure. Price action saw the index test its 100-day EMA on the daily chart, with buyers stepping in to defend key 7500 support and prevent a deeper structural breakdown. Overhead resistance remains clearly defined at the 7,720–7,750 region, requiring a high-volume weekly close to re-ignite the primary uptrend toward the 7,850 target. On the downside, the 7,600 zone continues to serve as immediate technical support, backed by our primary structural floor at 7,500. With the S&P 500 settling at 7,650.00, our long-term structural trend-following indicators remain firmly in a "Hold" posture with no sell triggers fired.

The weekly chart of the S&P 500 index

Fund Rankings Update, 9/11/2026

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 SSPP model portfolio: Sell FOCPX, Buy FICDX

Trading signal occurs in HSA model portfolio: Sell DCZRX, Buy VFTAX

Stocks experienced a corrective pullback this week as investors confronted renewed inflation jitters and shifting macroeconomic expectations ahead of the September Federal Open Market Committee (FOMC) meeting. Early-week trading was weighed down by hotter-than-expected producer price data and a fresh wave of profit-taking across mega-cap technology names. Sentiment remained cautious as Treasury yields ticked upward, prompting institutions to lock in gains and reassess valuations following the strong summer advance. While mid-week dips saw mild dip-buying emerge around key technical thresholds, the broader market failed to gather sufficient upside momentum to reverse the weekly losses. For the week, the S&P 500 declined 0.8% to close at 7,656, the Dow Jones Industrial Average dropped 1.57% to finish at 52,573, and the tech-heavy Nasdaq Composite fell 0.66% to settle at 26,333.

From a technical perspective, the S&P 500 retreated from its recent consolidation range, testing the lower bounds of its short-term moving average structure. The index slipped below its 10-day and 20-day EMAs during the mid-week distribution, indicating a temporary cooling of near-term momentum. However, price action successfully held above the primary structural support zone near 7,600, keeping the intermediate uptrend framework intact for now. Looking ahead, the former support region around 7,720–7,750 now shifts back to immediate overhead resistance, while the multi-week floor at 7,500 remains the critical line in the sand for structural defense. With the S&P 500 closing the week at 7,656, our long-term structural trend indicators remain safely in a "Hold" posture with no sell triggers fired.

The weekly chart of the S&P 500 index

 

Fund Rankings Update, 9/4/2026

 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 extended their high-level consolidation this week, trading in a narrow range ahead of the Labor Day holiday weekend as market participants digested strong labor data and assessed the outlook for monetary policy. Equity markets experienced quiet trading early in the week amid low late-summer volumes, though pressure mounted as Treasury yields climbed following hawkish Federal Reserve commentary. Sentiment received a late boost from robust private payroll figures, but Friday's session ended lower after the August Nonfarm Payrolls report came in stronger than expected with 162,000 jobs added, reinforcing expectations that the Fed may keep interest rates elevated. For the week, the S&P 500 edged up a modest 0.09% to close at 7,718, the Dow Jones Industrial Average slipped 0.27% to end at 53,414, and the tech-heavy Nasdaq Composite rose 0.40% to settle at 26,506.  

From a technical perspective, the S&P 500 continued to execute a tight, high-level digestion pattern following its mid-August pullback. By absorbing late-week selling pressure without surrendering key support, the index held comfortably above its 28-week EMA, keeping the intermediate uptrend structure firmly intact.  Looking ahead, the 7,850 level remains the primary overhead resistance target for bulls targeting new high ground, while initial technical support continues to rest at the 7,600–7,640 zone, backed by primary structural support at 7,500. With the S&P 500 settling safely at 7,718, our long-term structural trend indicators remain firmly in a "Hold" posture with no sell triggers fired.

The weekly chart of the S&P 500 index

Fund Rankings Update, 8/28/2026

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 sETF model portfolio: Sell IXN, Buy IBB

Stocks stabilized in a narrow range this week, as investors digested mixed economic data and absorbed Federal Reserve Chair Kevin Warsh’s remarks at the Jackson Hole Economic Symposium. Early-week trading remained cautious, with investors' sentiment supported by strong results from NVIDIA and declining oil prices. However, market sentiment turned sour on Friday after FED Chair Kevin Warsh struck a hawkish tone, noting that the Fed’s 2% personal consumption expenditures (PCE) inflation target is “firm” and further rate policy tightening remains possible if inflation does not move toward the target.  For the week, the S&P 500 gained 0.49% to close at 7,711, the Dow Jones Industrial Average rose 0.53% to end at 54,244, and the tech-heavy Nasdaq Composite edged up 0.85% to settle at 26,275.  

From a technical perspective, the S&P 500 spent the week in high-level consolidation following the prior week's pullback. By absorbing selling pressure without surrendering key support, the index held firmly above its short-term 10-day and 20-day EMAs, keeping the broader intermediate uptrend structure intact. Looking ahead, the 7,850 level remains the primary overhead resistance target for bulls aiming to push toward new record highs. On the downside, initial technical support continues to rest at the 7,600–7,640 zone, backed by primary structural support at 7,500. With the S&P 500 settling safely at 7,711, our long-term structural trend indicators remain firmly in a "Hold" posture with no sell triggers fired.

The weekly chart of the S&P 500 index