Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, nSSPP, SELECT, ETF, iETF, sETF have been posted at http://sites.google.com/site/ycprankings/
Good economy news boosted stock markets during the week. The bad job data Friday dampen the investors mood a bit but stocks still end up higher. The S&P 500 index closed this week at 1224 up 2.97%, the Dow Jones Industrial Average decreased 2.62%, while the technology laden Nasdaq composite index bucked and trend and gained 2.24% for the week.
Again we have come to the most difficult period for me in updating the ranking tablea. A lot of funds are distributing the profit/loss of the year to their investors and distorting the fund price. Fidelity has 39 funds making year end dividend distribution this weekend. For example, FEMKX made a 37 cent distribution to its fund holders and its fund price went down 32 cent from yahoo quote. If we add back the 37 cent, FEMKX should went up 5 cent on Friday. For these fund I have to find out the amount of their distributions as best as I can and manually make correction to my ranking calculations.
In the monthly chart of S&P 500 index, the price is well above the trend line and going higher. The momentum indicator STO[15,1] is at 88, indicating that the multi-year up trend is still intact.
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