Trading signal occurs in SELECT model portfolio: Sell FSLXX, Buy FSRPX
European countries' action to tackle their debt crisis boosted investors confidence. Stocks continued their rebound with all major indexes breaking their downward trend line. S&P 500 index closed this week at 1285 up 3.78%, the Dow Jones Industrial Average gained 3.58%, and the Nasdaq composite index increased 3.78%.
In the weekly chart of S&P 500 index, the momentum indicator is climbing above 50, and the price is breaking above the 28 week moving average trend line. We need to wait for the confirmation signal to validate that this rally can turn into a sustainable up trend.
The US sector funds have quickly regained their momentum after this strong market rebound. In the SELECT ranking table the money market fund has been pushed down below the7th rank. Accordingly, a trading signal is issued to sell FSLXX and buy the top ranked fund FSRPX for our SELECT model portfolio.
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