Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted at http://sites.google.com/site/ycprankings
Weak confidence and European's voters revolt on austerity measures plunged the global stock markets. SP 500 index closed this week at 1353, down 1.15%. Dow Jones Industrial Average lost 1.67%, and Nasdaq composite index dropped 0.76%.
S&P 500 index has fallen to intra-week low of 1343, bounced back and closed at 1353. I have pointed it out that there is a short term support at 1340 - 1350. With the declining daily and weekly momenta, it now looks like the index will come down further to the next support at 1300.
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