Fund Rankings Update, 8/26/2011

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 FRESX Buy FNMIX.

Stock markets, trying to build a bottom, turned in a nice rebound from their support level this past week. The S&P 500 index closed this week at 1176 up 4.74%, the Dow Jones Industrial Average gained 4.32%, and the Nasdaq composite index increased 5.89%.

Last week I pointed out that there is a support at 1100-1120 for S&P 500 index, and I am glad to see the support held up well and the index had a nice technical rebound. However, judging from the severity of this correction and the weakness of the investor's sentiment, the index will stay below the trend line for a while and the support may be tested again in the future.