Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted at http://sites.google.com/site/ycprankings/
S&P 500 index and Dow Jones Industrial Average finally stopped 6 week of loosing steak but NASDAQ composite index still kept marching downward. The S&P 500 index closed this week at 1271 up 0.04%, the Dow Jones Industrial Average gained 0.44%, while the technology laden Nasdaq composite index decreased 1.03%. Fear of the ripple effect from Greece debt crisis and uncertainty about the end of QE2 which will happen at the end of June kept investors on the side line. In this bearish environment, defensive funds such as utility and healthcare have risen in the ranking tables, and some of our model portfolios also have moved to defensive positions to reflect this market correction. We do not know when the market will finish this correction phase and turn around. We can only hope the end of the tunnel is near.
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