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 ETF model portfolio: Sell CASH, Buy IDU.
Trading signal occurs in sETF model portfolio: Sell CASH, Buy IDU.
Technical rebound and better than expected economy news propelled the major stock indexes to the top the their trading channel. S&P
500 index closed this week at 1224 up 5.98%, the Dow Jones Industrial
Average gained 4.88%, and the Nasdaq composite index increased 7.6%.
In two weeks, S&P 500 index has climbed from the bottom of the trading channel at 1120 to the top of the channel at 1220. It will be interesting to see which way index is heading next week. Will the expected good company earnings help the index to break the resistance or traders will take profits and capped the its upward movement.
After one month in cash position, ETF and sETF model portfolios have moved to Utility sector due to its positive AMI. Since Utility sector is very defensive in nature, I would stay with cash position and skip this trade.
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