Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted at http://sites.google.com/site/ycprankings
Stocks went down early in the week but boosted by the stronger than expected job report in the US and the encouraging outcome from Greece's debt restructuring at the end of the week. The SP 500 index closed this week at 1370 up 0.09%, the Dow Jones Industrial Average lost 0.43%, and the Nasdaq composite index increased 0.41%.
S&P 500 index has been consolidating at 1360 - 1370 level for the past 4 weeks waiting for its trend line to catch up. As the momentum of the index is still strong and the up trend is still intact, it is healthy for the index to take a break either by a pull back or a flat consolidation after 3 months of nonstop advance.
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