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 fourth week with Dow Jones Industrial Average breaking the 1400 psychological barrier. S&P 500 index closed the week at 1518, up 0.17%, Dow Jones Industrial Average gained 0.64%, and Nasdaq composite decreased 0.25% for the week.
Weekly chart of S&P 500 index below shows that the index has been searching for a direction for 4 weeks and looks to be forming a rounded top formation. With the uncertainty of effect from federal government budget cut due to the sequester and March 27 deadline for government shutdown, I see more downside bias then upside in the next few weeks.
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Great stats
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