Fund Rankings Update, 9/28/2012

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 their consolidation for the second week. S&P 500 index closed the week at 1440 down 1.33%. Dow Jones Industrial Average lost 1.05%, and Nasdaq composite deceased 2%. 

Mixed economy news, higher consumer confidence and consumer spending in August, lower manufacturing activity in mid-west, and slower 2nd quarter GDP, .etc., did not provide direction to this market. Technically, stocks are still in the uptrend movement. S&P 500 index is well above the support with high momentum. Stocks will resume its rally, if we can get some good economy news in the coming weeks. In US sectors, multimedia, biotech and home construction are still very strong. In the global regions, we still see a lot of short term rotation. India and Hong Kong and coming strong while some European countries faded a bit. Because of this short term churning, iETF model portfolio is having trouble holding the top ranked funds for a long period of time to develop the profit, and its performance has been suffering. On the contrary, the home construction sector has been stably strong since last year, and the sETF model portfolio is benefiting from this stable trend in ITB.