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

Fund Rankings Update, 5/8/2026

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 closed sharply higher this week, with the S&P 500 and Nasdaq Composite hitting fresh all-time highs as a tech-led rally outweighed persistent geopolitical anxieties.  Investors have aggressively pivoted toward high-growth technology and AI-focused sectors as Q1 earnings confirmed that the massive spending on AI infrastructure is yielding tangible profit growth for cloud providers and semiconductor giants.  Economic data released this week showed the robustness of the labor market despite the high energy costs and geopolitical instability. On Friday, the Bureau of Labor Statistics (BLS) reported that the U.S. added 115,000 jobs in April, well above the consensus expectations of a 55,000 to 65,000 gain. The unemployment rate remained steady at 4.3%, meeting market forecasts. Earlier in the week, the Department of Labor reported that weekly jobless claims totaled 200,000, which, while an increase from the prior week, came in below expectations.  For the week, the S&P 500 gained 2.33% to close at 7,398, the Dow Jones Industrial Average finished essentially flat at 49,609, and the Nasdaq Composite surged 4.51%.

The S&P 500 index continued its powerful breakout this week, decisively clearing the 7,200 level and finishing just shy of the 7,400 mark. The index remains in a strong primary bullish trend, trading 8.4% above its 28-week exponential moving average.  As the index is far above its trend line, we may see a period of sideways consolidation or a minor "back-test" of previous resistance in the coming week.  The next major psychological targets are 7,450 and the 7,500 milestone. The primary support is now at the 7,200 breakout point. A failure to hold this level on a retracement would bring the 28-week EMA (currently near 6,820) back into focus. 

The weekly chart of the S&P 500 index

Fund Rankings Update, 5/1/2026

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 closed higher this week, with both the S&P 500 and Nasdaq Composite achieving fresh all-time highs as corporate earnings growth remains the dominant driver of market momentum.  Economic data released this week painted a picture of the "soft landing" scenario. On Thursday, the Department of Labor reported that initial jobless claims fell to 189,000, a significant decrease from the previous week, and on Friday, the Institute for Supply Management (ISM) reported that the Manufacturing PMI remained in expansion territory at 52.7% for April.  For the week, the S&P 500 rose 0.91% to close at 7230, the Dow Jones Industrial Average advanced 0.55%, and the Nasdaq Composite went up 1.12%.

The S&P 500 index successfully extended its upward trajectory this week, holding above the 7,200 level and confirming the strength of its recent breakout. The index remains in a strong primary bullish trend, trading 6.6% above its 28-week EMA.  The immediate technical hurdle is the 7,350 zone. A sustained move above this level could target the 7,500 psychological milestone before the summer season.  The support level from below has shifted up to the 7,200 mark. If the index experiences a short-term pullback, the previous high of currently 7000 remains the critical line in the sand for the medium-term bullish thesis.

The weekly chart of the S&P 500 index

Fund Rankings Update, 4/24/2026

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 FICDX, Buy FOCPX

Stocks in general closed higher this week, with the S&P 500 and the Nasdaq Composite index finishing at another all-time high.  Investors' sentiment was buoyed by a "risk-on" appetite fueled by a cooling geopolitical environment and explosive earnings momentum in the semiconductor space. The formal implementation of a two-week ceasefire and the continued reopening of the Strait of Hormuz have significantly reduced the "war premium" on global trade, allowing a sharp rotation back into high-growth tech and AI infrastructure.  Economic data released this week showed that the U.S. economy may have been stronger than previously expected as U.S. retail sales jumped 1.7% in March, the strongest monthly increase since 2023, and the readings for February and January were also revised higher.  For the week, the S&P 500 rose 0.55% to close at 7165, the Dow Jones Industrial Average declined 0.44%, and the Nasdaq Composite went up 1.5%.

The S&P 500 index successfully consolidated its breakout above the 7,000 level this week, utilizing the previous resistance as a new primary support floor. The index remains in a strong primary bullish trend, trading well above its 28-week EMA.  However, the rapid 12% ascent from the March lows has pushed the index 6% above its trendline in a short period of time, indicating that the market is entering overbought territory and may require a period of sideways consolidation to work off the excess momentum. The immediate upside target is still the 7,200 extension level, and the primary support is now firmly established at 7,000.

The weekly chart of the S&P 500 index