Fund Rankings update, 6/26/2026

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.

The structural push into the end of the quarter hit a major technical speed bump this week. Selling pressure was relentless, forcing the S&P 500 to fall every single day and snapping its brief post-holiday recovery.  The five-day slide marks the longest losing streak for the broad market since last August, leaving the index sitting roughly 3.4% below the all-time highs established on June 2nd.  For the week, the S&P 500 lost 1.95% to close at 7294, the Dow Jones Industrial Average rose 0.6%, while the tech-heavy Nasdaq Composite plunged 4.6%.

On the technical picture of the S&P 500 index,  the 7,500 level remains the short-term technical resistance. A clean, high-volume weekly close above this level is required to neutralize the recent corrective posture and open the path toward 7,700. On the other hand, the tested 7,200 level acts as a defender for any near-term pullbacks.

The weekly chart of the S&P 500 index

Fund Rankings Update, 6/19/2026

 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 FSENX, Buy FDCPX

Trading signal occurs in sETF model portfolio: Sell IEZ, Buy IXN

The major averages closed higher this week supported by the news that the U.S. and Iran had signed an interim agreement extending the April ceasefire by 60 days, allowing commercial shipping to resume safely through the Strait of Hormuz.  For the week, the S&P 500 rose 0.93% to close at 7500, the Dow Jones Industrial Average gained 0.71%, and the tech-heavy Nasdaq Composite shot up 2.43%.

The weekly chart of the S&P 500 index

Fund Rankings Update, 6/12/2026

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.

The major averages clawed their way back to lock in a positive week, breaking the early June correction momentum. Volatility took center stage, but the market found solid footing by Thursday and Friday, riding a massive wave of capital from the historic SpaceX IPO as well as significant diplomatic progress in the Middle East.  For the week, the S&P 500 rose 0.65% to close at 7,431, the Dow Jones Industrial Average gained 0.66%, and the tech-heavy Nasdaq Composite advanced 0.7%.

The S&P 500 index executed a healthy stabilization this week, defending its immediate support levels and recovering part of the early-June drawdown. The index reached a low of 7231 mid-week and rebounded to close at 7431, right above its 20-day EMA. On the upside, the 7500 level remains the short-term technical resistance.  A clean, high-volume weekly close above this level is required to neutralize the recent corrective posture and open the path toward 7,700.  Conversely, the recently tested 7,200 level serves as a firm support, acting as a crucial defender against any near-term pullbacks.      

The weekly chart of the S&P 500 index

Fund Rankings Update, 6/5/2026

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 the FEMKX timing model: Sell FEMKX, Buy Cash

Stock markets faced their sharpest reality check in months this week, as a massive Friday sell-off in mega-cap technology companies dragged down the broader averages. The S&P 500 slumped 2.6% on Friday alone, marking its worst single-day performance since last October.  The slump was due to the strong Job reports from the Labor Department on Friday morning that the economy added 172,000 jobs in May, nearly doubling economists' consensus expectations. While the unemployment rate held steady at 4.3%, the strong job creation and positive revisions to prior months sent Treasury yields surging. The 10-year Treasury yield climbed sharply to 4.54%, as market participants rapidly priced in the likelihood that the Federal Reserve will hold interest rates higher for longer, or potentially even consider a rate hike later this year.  For the week, the S&P 500 fell 2.6% to close at 7,383, the Dow Jones Industrial Average slipped 1.3%, and the tech-heavy Nasdaq Composite bore the brunt of the damage, plunging 4.2% to close at 25,709.

The S&P 500 underwent a major technical rejection at 7600 level, failing to sustain its position in "blue sky" territory and plummeting back below the 7,500 psychological barrier. By closing at 7,383, the index has wiped out its late-May gains and is now aggressively testing its short-term moving averages. The vertical nature of Friday's drop suggests that momentum has shifted to neutral-bearish in the immediate term, though the structural long-term trend remains intact. The 7500 flips from support to short-term technical resistance now that it has been broken, while 7200, the previous breakout point, becomes short-term support with the previous high of 7000, which also coincides with the 28-week EMA as a further downside support.    

The weekly chart of the S&P 500 index

Fund Rankings Update, 5/29/2026

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 RSP model portfolio: Sell 42635, Buy FDGRX

Stocks closed the final week of May on a high note, with the S&P 500 surging to a new closing record of 7,580. The rally was driven by a relentless "risk-on" appetite as investors looked past lingering macroeconomic concerns to focus on the explosive growth within the information-technology sector. While short-dated U.S. Treasury yields nudged higher following a University of Michigan survey that indicated sticky inflation expectations, the market largely shrugged off these signals and instead fixated on the unprecedented "AI frenzy".  For the week, the S&P 500 gained 1.43% to close at 7580, the Dow Jones Industrial Average increased 0.9%, and the Nasdaq Composite rose by 2.39%.

The S&P 500 is displaying classic signs of a "momentum-driven" market. Closing at 7,580, the index has decisively cleared the psychological 7,500 resistance level and is currently in "blue sky" territory, meaning it is trading at all-time highs with no immediate overhead technical resistance.  However, we must remain vigilant for the potential of short-term mean-reversion pullbacks.  With the index at an all-time high, the immediate price target (resistance) has been raised to the 7700 level. The 7500 level has been flipped from a resistance to a short-term technical support with 7400 as a further down side support.   

The weekly chart of the S&P 500 index

Fund Rankings Update, 5/22/2026

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 experienced a week of high-level consolidation as investors navigated a flurry of mixed signals from the Federal Reserve and ongoing geopolitical uncertainty. The release of the Federal Reserve’s May FOMC minutes mid-week revealed that a majority of officials are now open to potential interest-rate increases if inflation remains stubborn. This "hawkish" pivot, coupled with the absence of a breakthrough in U.S.-Iran negotiations, kept markets on edge. However, the energy sector's resilience and a steady stream of solid earnings reports provided enough support to keep the major indices near their recent record peaks.  For the week, the S&P 500 gained 0.83% to close at 7473, the Dow Jones Industrial Average increased 2.13%, and the Nasdaq Composite rose by 0.45%.

The S&P 500 continues to hold its ground at the upper end of its bullish channel. Despite the mid-week dip, the index reclaimed the 7,400 level by Friday’s close, suggesting that buyers remain active on any meaningful pullback. The primary technical ceiling remains at the 7,500–7,520 zone. A clean weekly close above this level is required to initiate the next leg toward 7,650.  The short-term support still lies at the 7,200, which represents the prior breakout junction. If the index slips below this on a closing basis, the next major support zone is the 7,000 level, which is the previous high and aligns with the 28-week EMA. 

The weekly chart of the S&P 500 index

Fund Rankings Update, 5/15/2026

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 ETF model portfolio: Sell ILF, Buy IYW

Stocks finished the week flat, with the S&P 500 breaking past the historic 7,500 threshold intraweek before encountering Friday profit-taking. Geopolitical noise in the early week weighed on investor sentiments as statements regarding the US-Iran ceasefire being "on life support" briefly pushed Brent crude over $104 a barrel, prompting a temporary revival of energy inflation anxieties before commodity markets stabilized.  Economic data released this week reflected an ongoing tug-of-war between strong corporate earnings and sticky price pressures. On Tuesday, the Bureau of Labor Statistics (BLS) reported that the April Consumer Price Index (CPI) printed at 3.8% year-over-year, driven primarily by a sharp annualized spike in retail gasoline costs. However, core CPI rose a tamer 0.2% month-over-month, matching consensus estimates.  For the week, the S&P 500 gained 0.13% to close at 7408, the Dow Jones Industrial Average decreased by 0.17%, and the Nasdaq Composite finished essentially flat, lower by 0.08%.

The S&P 500 index established a new all-time high of 7,517.12 on Thursday before facing a healthy dose of technical profit-taking to close the week at 7,408.  Despite the Friday slide of 1.24%, the primary structural uptrend is completely intact. The index remains in a strong primary bullish trend, trading 7.9% above its 28-week exponential moving average.  As the index is far above its trend line, we are starting to see a high level of sideways consolidation.  The immediate overhead technical ceiling has now been defined at the 7,500–7,520 zone. A clean, high-volume weekly close above this area opens the door to target the 7,650 extension level.  The short-term support lies at the 7,200, which represents the prior key breakout junction and aligns with the 28-week EMA. 

 

The weekly chart of the S&P 500 index