Trading signal occurs in SSPP model portfolio: Sell FTRNX, Buy FOCPX.
Stocks were mixed due to weak economy data and firm company earnings. S&P 500 index closed at 1836, down 0.13%, Dow Jones Industrial Average lost 0.32%, while Nasdaq composite increased 0.46% for the week.
S&P 500 failed again to break above the mighty 1850 resistance as seen in the weekly chart below. This may turn the rebound from "V" shape into a "W" shape in the coming week. In that scenario, the index is going to pull back and retest the 28 week moving average. We will see how this unfolds in the coming weeks.
The effect of sector rotation continues to be felt in our model portfolios. This week, the AMI ranking of FTRNX in SSPP ranking table has dropped to 9 and is replaced with the current number one rank fund, FOCPX, in our SSPP model portfolio. The portfolio has held the fund for 39 days with a gain of 1.59%.
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| Weekly Chart of S&P 500 Index |
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