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 FIUIX, Buy FRESX.
Good company earnings lifted the stock markets. The S&P 500 index closed this wee
k at 1345 up 2.19%, the Dow Jones Industrial Average gained 1.61%, and the Nasdaq composite index decreased 2.47%. All major indexes rebounded from their support this week, indicating continuation of the rally (see chart below). However, with politicians in Washington still can not reach an agreement on raising the debt ceiling as August 2 deadline is around the corner, we do not know how stocks will react next week.
GM has modified the fund lineup in its retirement plan again. Quite a few Fidelity mutual funds have been phased out and replaced with privately managed funds. The RSP fund ranking table has now been updated with the 32 funds in the program. The momentum indexes of the new funds will not be accurate for a while since no history prices are available for calculation. The RSP model portfolio was not affected by this change as the holding fund, SSGA REIT INDEX, stays with the program.
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