Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, nSSPP, SELECT, ETF, iETF, sETF have been posted at http://ycprankings.atspace.com/
Stocks finally got a needed rebound. The S&P 500 index closed this week at 1077 up 5.42%, the Dow Jones Industrial Average increased 5.28%, and the Nasdaq composite index gained 5.0% for the week. From the weekly chart of S&P500 index, the 13 week moving average has fallen below the 28 week average and the price is still below the 13 week moving averages even with the strong rebound this week. The weekly momentum of S&P 500 index stood at 19 well below the buy threshold of 50 indicating that the reversal of the current down trend is still weeks away.
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