Weekly Average Momentum Index (AMI) rankings of SSPP, nSSPP, SELECT, ETF have been posted at: http://yechen.pan.googlepages.com/
We have been waiting for good economy news to boost the investors' confidence and we got it this week. INTEL, Goldman Sach, and IBM reposted strong company earnings early this week and rally the stock markets. The SP 500 index closed this week at 940, up 7.0%, the Dow Jones Industrial Average increased 7.3% for the week, and the Nasdaq composite index gained 7.4%. The S&P 500 has climbed back above the 900 support level. This price movement showed that there are strong support at this level, and the level has to be hold to continue the rally since March.
Automotive, Technology are among the strongest sectors for the week. Technology sector usually leads the pack in the recovery phase. We shall see if this is the case.
No comments:
Post a Comment