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 continued marching higher and produced gain for the fifth week. SP 500 index closed the week at 1405, up 1.07%. Dow Jones Industrial Average gained 0.85%, and Nasdaq composite index increased 1.78%.
With increasing momentum, S&P500 index is expected to march higher. However, the index has just reached the rounded number of 1400 and near its April high of 1420. A couple weeks of consolidation at this level may be in the making before it heads even higher.
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