Weekly Average Momentum Index (AMI) rankings of SSPP, nSSPP, SELECT, ETF have been posted at: http://yechen.pan.googlepages.com/
Stocks paused for a break this week and ended the six weeks of winning streak. The S&P 500 index closed at 866, down 0.4%, and the Dow Jones Industrial Average decreased 0.7% for the week, while the Nasdaq composite index still managed to gain 1.3%.
Investors have very low expectation of the company earnings, hence the earning news so far has been better than wall street's estimates. This indicates that we are in the process of forming the bottom. However, recovery is still a long way to go and we need to see more improvement in the economy. The month of May usually is not a good month for stocks based on past statistics. We shall see how it turns out this year.
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