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 FOCPX, Buy FIUIX
Trading signal occurs in SELECT model portfolio: Sell FSRPX, Buy FSHOX
European debt crisis is still the big elephant in the room, and it seems that Santa is not coming to Wall street this year. SP 500 index closed this week at 1219 down 2.83%, the Dow Jones Industrial Average lost 2.61%, and the Nasdaq composite index decreased 3.46%. S&P 500 index is still dancing around its 28 week moving average. It failed to stay above the trend line this week and showed a lower high formation. There is a strong resistance at 1250 level and we may stuck in the trading channel of 1150 - 1250 for a while.
Since the rally in early October fails to turn into a sustainable up-trend, the SSPP and SELECT model portfolios switch their holdings to more defensive funds, FIUIX and FSHOX respectively this week and incur some loss.
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