Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, nSSPP, SELECT, ETF, iETF, sETF have been posted at http://yechen.pan.googlepages.com/
The earning season began with Alcoa's disappointing announcement and stocks reacted to it. Most companies were expected to make large profits as Intel and JP Morgan because of their cost cuttings and the easy comparisons to the small number a year a go. The investors seemed to look beyond the earning numbers and focus on the revenue growth to gauge the strength of the economy recovery. Up and own are the nature of the stock price movement. As long as the trend is intact, we are still in the long position. The S&P 500 index closed this week at 1136, down 0.48%, the Dow Jones Industrial Average decreased 0.08%, and the Nasdaq composite index lost 1.26% for the week.
The transportation, and technology sectors are the stronger sectors this week, and Korea and India are still coming strong in the international arena.
Last week, I could not upload the ranking tables to Google site because of their system issue. To keep you informed about the ranking updates, I had to move the whole site (all the pages and their links) to another web host and that was why the ranking pages looked different last week. I hope this won't happen again but I can not complain much since these are all free services.
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