Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, nSSPP, SELECT, ETF, iETF, sETF have been posted at http://sites.google.com/site/ycprankings/
Concern about European's debt level and Chinese central bank's raising the bank reserve requirement rattled the market but the successful IPO of GM boost the investor's sentiment making this week eventful but end up flat. The S&P 500 index closed this week at 1199 up 0.04%, the Dow Jones Industrial Average increased 0.1%, and the technology laden Nasdaq composite index lost 0.00% for the week.
In the weekly chart of S&P 500 index, we can see that the price is well above its trend line and the STO momentum indicator has come down a bit but still maintains in the high 80's. We can expect that the uptrend will keep going for a while and of course the way up is never a straight line. We should expect some bumps along the way.
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