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 SELECT model portfolio: Sell FSUTX, Buy FBMPX.
Trading signal occurs in FEMKX market time system: Sell Cash, Buy FEMKX.
Better than expected economic news in retail sale and consumer confidence keept the rally going. Stocks continued marching higher for the sixth week. SP 500 index closed the week near the April high at 1418, up 0.87%. Dow Jones Industrial Average gained 0.51%, and Nasdaq composite index increased 1.84%.
With increasing momentum, S&P500 index is expected to continue treading higher. Even with a lot of uncertainty about the slow growth in US economy and debt crisis in Euro zone, stock markets have turned out a nice rally this summer. The S&P500 index is 12% higher than its June low of 1266 and NASDAQ composite index is 12.8% higher. If you moved to side line in May as the old saying "sell in May, come back in September", you would have missed the whole rally this summer.
With the rally continue its course, our SELECT model portfolio and FEMKX timing system have move to offensive positions this week. In the SELECT ranking table, Multimedia Fund (FBMPX) is holding the top AMI ranking for the second week, and Utility Growth Fund (FSUTX) has dropped out to the top 7 rankings. According to the trading rule of SELECT model portfolio, we will sell FSUTX and buy FBMPX. In FEMKX timing system, a buy signal has been issued as the momentum indicator, STO(15,1), climbed above 50 this week. FEMKX timing model has been in cash position since April 30 for more than 100 days. Although it missed the summer rally, it also avoided the sharp drop in May. The trading histories for SELECT portfolio and FEMKX timing model can be found in https://sites.google.com/site/ycprankings/selecttradinglog.
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