Trading signal occurs in the SELECT model portfolio: Sell FSAVX, Buy FBSOX.
Stocks started November with a strong week. Even with the news that the US unemployment rate climbed from 9.8% to 10.2 % in October, stocks still managed a small gain on Friday to give the market five straight advances. The S&P 500 index closed this week at 1069, up 3.2%, the Dow Jones Industrial Average increased 3.2%, and the Nasdaq composite index gained 3.3% for the week. It is a good sign that all the indexes have managed to stay above their 13 week trend line.
The technology and engrgy sectors have pushed the automotive sector down below the 7th rank in the SELECT ranking table, hence a trading signal was issued for SELECT model portfolio. In the ETF ranking table, IYR failed to maintain its up trend and quickly lost its momentum. We still hold IYR in the ETF model portfolio since its ranking has not fallen below 10.
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