Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted at http://sites.google.com/site/ycprankings
Slowdown in China economy and worries about Spain's debt situation give stocks the first meaningful pull back since beginning of the year. The SP 500 index closed this week at 1370 down 1.99%, the Dow Jones Industrial Average lost 1.61%, while the Nasdaq composite index decreased 2.25%.
We will again be in the midst of company quarterly earning reports next week, and the stocks will be more volatile than usual as they will be affected one way or the other. The weekly chart of S&P 500 index shows that a short term pull back usually lasts about 3-4 weeks, and there may be a short term technical support at 1340 level.
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