Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, nSSPP, SELECT, ETF, iETF, sETF have been posted at http://ycprankings.atspace.com/
The Fed had spoken and confirmed that economy recovery has decelerated in the past 3 months. Although the Fed has indicated its willingness for a more accommodating money policy to prop up the economy, the investors' worry about the economy dipping back to recession still pulled the market downward. The S&P 500 index closed this week at 1078 down 3.78%, the Dow Jones Industrial Average decreased 3.29%, and the Nasdaq composite index lost 5.0% for the week.
From the weekly chart of S&P 500 index, the index touched the trend line last week and went back down this week. The momentum (STO[15,1]) went up close to 50 but failed to climbed above the threshold this week. Both conditions need to be established for the trend to gain a stronger foothold. This year has turned out to be a difficult year for trend trading as no clear trend has emerged so far (notice the flat trend line since May!).
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