Fund Rankings Update, 5/3/2013

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 FEMKX timing system: Sell Cash, Buy FEMKX.
Trading signal occurs in  iETF model portfolio: Sell EWD, buy EWJ.

------------------------------------------------------------------------------------------------------------
US economy added 165000 jobs in April, exceeding expectation of 150,000, and the unemployment rate dropped to 7.5% the lowest since 2008. The job report lessen investors' worry about the slow down of economy and push S&P 500 index above the psychological barrier of 1600. For the week, S&P 500 index closed  at 1614, up 2.03%, Dow Jones Industrial Average gained 1.78%, and Nasdaq composite increased 3.03%.

In the weekly chart for S&P 500 index, we start seeing divergence between STO and the price moment. The price is making new high while momentum (STO) stays about the same. We are also entering the seasonal quite summer trading season (the saying: "Sell in May and go away, come back in September).  The correction/consolidation may not be imminent and the rally may still has legs, but as the index move further away from its 28 weeks moving average, more caution is needed in trading stocks and funds.

Two trading signals were issued this week: The momentum indicator of FEMKX has climbed above 50 after falling to the low of 43. According to our trading rule, we are moving out from cash position and buy into FEMKX. The second trading signal happened in the iETF momentum ranking table. The AMI rank of EWD (Sweden) was pushed below rank 7 and a trading signal was issued to replace it with the current top rank fund, EWJ(Japan). We have held EWD for a little bit more than one month with a gain of 3%.