Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, nSSPP, SELECT, ETF, iETF, sETF have been posted at http://sites.google.com/site/ycprankings/
Stocks came out strong the first week of the new year. Job data on Friday indicated a slow but steady recovery. Technology sectors were boosted by the new products came out of the annual Consumer Electronic Show in Las Vegas. The S&P 500 index closed this week at 1271 up 1.1%, the Dow Jones Industrial Average increased 0.84%, and while the technology laden Nasdaq composite index gained 1.9% for the week.
Again, we did not see any trend change this past week. Small cap, technology, auto and energy related sectors are still leading the way in US market due to the slow but robust economy growth. Global regions still lagged behind the US markets in performance because of the European debt concern and the government initiated slow down in China.
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