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 FDGFX, Buy FDGRX.
Stocks tried to digest their lofty gain so far this year. The SP 500 index closed this week at 1398 down 0.74%, the Dow Jones Industrial Average lost 1.15%, while the Nasdaq composite index decreased 0.36%.
S&P 500 has consolidated around 1400 level for the third week as shown in the weekly chart below. The weekly chart also shows that the index has been trending along the top of the Bollinger Band for three months now. In the past three years, the S&P 500 index had gone into 8% - 9 % correction to return to the mid point of the channel after trading along the top of the channel for 5 months. So, are we going to have temporarily pull back here and 2 more moths before major correction this time around?
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