Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted at http://sites.google.com/site/ycprankings
Company earnings have been strong, but 4th quarter US GDP came in at 2.8% less than the 3.1% predicted by the economists. Stocks were mixed with the SP 500 index closed this week at 1316 up 0.07%, the Dow Jones Industrial Average lost 0.47%, and the Nasdaq composite index increased 1.07%.
With the global economy backdrop, performance of US stocks has been stronger than the other global regions/countries. S&P 500 index is well above its trend line with high momentum, indicating that the rally will last for a while. Weekly chart shows a resistance around 1360 and we may see some consolidation at that level in the coming weeks.
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