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 SSPP model portfolio: Sell FRESX, Buy FIEUX.
Trading Signal occurs in HSA model portfolio: Sell MDDVX, Buy JLVIX
Trading Signal occurs in iETF model portfolio: Sell EWW, Buy EWN
After 2 weeks of consolidation, stocks broke through on the upside. S&P 500 index closed the week at 1437 up 2.23%. Dow Jones Industrial Average gained 1.65%, and Nasdaq composite index increased 2.26%.
A couple global economy news have boosted stock markets to the 3 year high this past week. European central bank announced unlimited bond buying program to help stabilize Euro zone sovereign debt crisis this past Thursday, and China announced new infrastructure projects to stimulate its slow economy. On Friday, the weak US August job report provide hope to investors that Federal Reserve will soon announce QE3 to boot US economy. Due to market's strong move, we have observed momentum rotations in our ranking tables especially in global regions. Fidelity Europe Fund (FIEUX) ranks number one for the second week In SSPP ranking table, and ishares Netherlands fund (EWN) took the number one rank from ishares Singapore (EWS) in iETF ranking table this week. In US general markets, growth funds are back in fashion while income oriented funds faded away. As S&P 500 index just broke above the resistance at 1420, we expect it will come back to test the support sometime in the future and continue the rally.
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