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 continue their technical rebound the second week. SP 500 index closed this week at 1342, up 1.3%. Dow Jones Industrial Average gained 1.7%, and Nasdaq composite index increased 0.5%.
In the weekly chart, S&P 500 index has closed above its 28 week moving average, and the momentum has come out of the oversold area. An encouraging sign that the index is slowly turning around. However, investors are nervously waiting for Greece election outcome Sunday. I expect that we will see high volatility in the stock markets Monday. Whether Greek people select a pro-bailout government, stocks will have short term violent move one way or the other. The worst outcome in my opinion is that they still fail to form a majority government. In that case, uncertainty lingers and we all know how much stock markets dislike uncertainty.
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