Weekly Average Momentum Index (AMI) rankings of SSPP, nSSPP, SELECT, ETF have been posted at: http://yechen.pan.googlepages.com/
The stock market had a big drop Monday due to the worry about the robustness of the economy recovery. As more good new trickled in during the week, the investors' confidence slowly came back. On Friday, the surge of the July new home sales finally did the trick. The SP 500 index closed this week at 1026, up 2.2%, the Dow Jones Industrial Average increased 2.0% for the week, and the Nasdaq composite index gained 1.8%.
As the economy recovery takes hold, the U.S. stocks outperformed the emergent markets this week. In SSPP ranking table, the real estate sector took the number 1 rank from pacific basin fund, and in the ETF ranking table, the US financial sector and real estate sector (IYG, IYF, IYR) all made big moves up to the top.
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