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 uptrend with S&P 500 index making a all time high in 5 years. SP 500 index closed the week at 1485, up 0.95%, Dow Jones Industrial Average gained 1.2%, and Nasdaq composite increased 0.29%.
With increasing momentum, stocks continued to advance higher. The next resistance level for S&P 500 index is the psychological barrier at 1500. We may see some hesitation at that level in the next couple of weeks but I do not expect it to be a major hurdle to this strong rally.
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