Fund Rankings Update, 6/10/2011

Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted at http://sites.google.com/site/ycprankings/

Trading signal occurs in SSPP model portfolio: Sell FDSCX, Buy FIUIX

Fear of economy slow down weighed on the markets this week and stocks suffered the sixth week of loss since end of April. The S&P 500 index closed this week at 1270 down 2.24%, the Dow Jones Industrial Average lost 1.64%, and the technology laden Nasdaq composite index decreased 3.26%. The weekly chart of S&P 500 index below shows that the index has decisively fallen below its support at 1300, and its momentum is getting worse. As discussed last week, the next support level is around 1220, and this correction will last for a while. Note that, the 1300 level becomes a resistance now.

Withe the correction in progress, the SSPP model portfolio has issued a trading signal. It rotates out of the more aggressive small cap fund, FDSCX, and move to a more defensive utility fund, FIUIX.

While reviewing the ranking tables, I also found that, the fund prices for SSGA REIT index, SSGA mid/small cap index and SSGA emerging market index in the RSP ranking tables are not very up-to-date for the past few weeks. As a result, their AMI rankings may not be very accurate. Since these funds are not public traded, I have no other sources to obtain the quotes other than logging into my 401k plan website to manually retrieve them every week. In a month, more fidelity funds will be phased out in RSP and new private funds will be added due to plan change . Rankings of the new funds will be even more difficult at that time.