Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, nSSPP, SELECT, ETF, iETF, sETF have been posted at http://ycprankings.atspace.com/
Boosted by better than expected economy news, stocks went up strongly this week. The S&P 500 index closed this week at 1104 up 3.75%, the Dow Jones Industrial Average increased 2.93%, and the Nasdaq composite index gained 3.72% for the week. In the weekly chart of S&P 500 index, the STO[15,1] momentum indicator climbed above 50 this week. However, the price is still below the trend line at 1120. We would like to see the price break above the trend line for confirmation of the intermediate up trend.
In the monthly chart of S&P 500 index, we can see the index whipsawing around the trend line for the past few months. The economy uncertainty has been reflected in the price action of the index. Unless the economy recovery picks up the steam again (which I hope it will), we may see the index stuck in the trading range for a while.
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