Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted at http://sites.google.com/site/ycprankings
and
HSA Ranking Table
SSPP Ranking Table
New SSPP (RSP) Ranking Table
Select Ranking Table
ETF Ranking Table
sETF Ranking Table
iETF Ranking Table
SSPP, RSP and HSA Trading Logs
Select and FEMKX Trading Logs
ETF, sETF and iETF Trading Logs
Trading signal occurs in RSP model portfolio: Sell Ariel (ARGFX), Buy LSV Large Cap (05087).
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Fed Chairman Bernanke's speech about the possibility of tightening money supply on Wednesday spooked the market and reversed the rally in the morning. However, US stock markets held up very well the next day in the face of a 7% drop in Japan's Nikkei index before the market open. For the week, S&P 500 index closed at 1649, down 1.07%, Dow Jones Industrial Average lost 0.33%, and Nasdaq composite decreased 1.14%.
The daily reversal (stock rallies initially but closes negatively) on Wednesday signaled the start of a consolidation in the next few days shown in the daily chart of S&P500 index. In the daily chart, the momentum is coming down on a rising tend line, however, in the weekly chart the momentum is still staying high with the price quite far above the trend line. A short consolidation to digest the lofty gain so far this year is healthy and will help the rally to continue.
In the RSP ranking table, the momentum of Ariel fund (ARGFX) has slowed down a bit in the recent week. The fund was pushed blew rank 7 and a trading signal was issued in the RSP model portfolio to replace ARGFX with LSV large cap value equity fund (05087).
Daily Chart of S&P 500 index
Weekly Chart of S&P 500 index
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