Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted at http://sites.google.com/site/ycprankings
After six weeks of consecutive gains, stocks finally took a break for consolidation. S&P 500 index closed the week at 1411 down 0.5%. Dow Jones Industrial Average lost 0.88%, and Nasdaq composite index decreased 0.22%.
Hints of US and Euro central banks to take action to stimulate the economic growth has kept this rally going. Sector rotation is also underway during this summer rally. Technology and energy sectors have come up strong in the past month. In the international front, Australia (because of it natural resource), and some European countries (France, Sweden, Netherlands) have been gaining momentum. As summer is coming to an end, and investors and traders are coming back from their summer vacation, we expect the trading volume will pick up in the Fall to give more conviction to the direction of the markets.
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