Trading signal occurs in HSA model portfolio: Sell NAESX, Buy VGRAX.
Rising manufacturing activities and strong auto sales in August showed US economy grew at a higher pace while concern about military strike in Syria subsided a bit. Stocks ended up for the week with S&P 500 index closed at 1655, up 1.36%, Dow Jones Industrial Average gained 0.76%, and Nasdaq composite increased 1.95% for the week.
In the daily chart, S&P 500 index has successfully build the short term bottom around 1630 but failed again to break above its 50 day moving average around 1665. In the weekly chart, the index has closed near its support for the second week. As MACD in the daily chart started turning positive and STO indicator started crossing over 50 and heading upwards, we may get back to the intermediate term uptrend if the index can successfully break above the 50 day moving average next week. Otherwise, it is likely that the index will go down to test the short term bottom around 1630.
Daily chart of S&P 500 index
Weekly chart of S&P 500 index
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