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 RSP model portfolio: Sell 05084 (PYR SM CP CORE POOL), Buy ARGFX.
Disappointing company earnings push the stock markets down for another week. S&P 500 index closed the week at 1411, down 1.48%. Dow Jones Industrial Average lost 1.77%, and Nasdaq composite decreased 0.59%.
S&P 500 index closed this week near the short term support of 1400. Judging from the price action on Friday, we may see S&P 500 index rebound at this level next week even though we have not yet through with the company earning reports.
The recent market correction has weaken the US markets' momentum and affects more on the technology sectors than on the major industrial sectors. In the RSP ranking table, we can see the momentum indexes of international funds getting stronger, and the small cap funds and small cap indexes weakening more than those of large cap funds, which causes a trading signal in our RSP model portfolio.
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