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 consolidated for the third week with Dow Jones Industrial Average flirting around the 1400 psychological barrier. S&P 500 index closed the week at 1515, down 0.28%, Dow Jones Industrial Average gained 0.13%, and Nasdaq composite decreased 0.95% for the week.
This stock rally since November 2012 looks to be tired, and has been in a consolidation for 3 weeks to digest its gain. Watch for key short term support at 1460 and 1420 for S&P 500 index, if a pull back happens.
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 ETF model portfolio: Sell EWW, Buy IYT.
Stocks consolidated for the second week. S&P 500 index closed the week at 1519, up 0.12%, Dow Jones Industrial Average lost 0.08%, and Nasdaq composite decreased 0.06% for the week.
With stocks in consolidation mode, there are some sector rotations going on. Financial sectors are down, while transportation and energy related sectors are up, and US domestics markets are outperforming Global regions. In ETF ranking table, Mexico index (EWW) has been pushed below rank 10 and is replaced with current number one rank fund, Dow Jones Transportation Average (IYT), in ETF model portfolio.
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 HSA model portfolio: Sell TGVAX, Buy NAMAX.
S&P 500 index and Nasdaq edged out small gain to extend their sixth week winning streak while Dow Jones index failed to break its 1400 psychological barrier and ended up with a losing week. S&P 500 index closed the week at 1517, up 0.31%, Dow Jones Industrial Average lost 0.12%, and Nasdaq composite increased 0.46% for the week.
As shown in the weekly chart below, there is not change in the technical picture of S&P 500 index. We may see some consolidation but the rally will continue.
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 continue to make new high. SP 500 index closed the week at 1513, up 0.68%, Dow Jones Industrial Average gained 0.82%, and Nasdaq composite increased 0.93%.
Auto sector is strong, and housing sector is in the mist of recovery. US economy is creating more jobs and fear of debt crisis is lessening for now. With all these favor factors on their back, stocks continue to march higher. Of course, the uptrend will not continue forever. A correction or a consolidation will occurs sooner or later. We should enjoy the ride before that happens.
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