Trading signal occurs in RSP model portfolio: Sell FDGRX, Buy 05087.
Trading signal occurs in SSPP model portfolio: Sell FOCPX, Buy FRESX.
Trading signal occurs in SELECT model portfolio: Sell FBIOX, Buy FSELX.
Trading signal occurs in ETF model portfolio: Sell IBB, Buy IGN.
Stocks continued to consolidate around S&P 1850 area with momentum stocks lost their shine. S&P 500 index closed at 1865, up 0.4%, Dow Jones Industrial Average gained 0.55%, while Nasdaq composite decreased 0.67% for the week. Technology laden Nasdaq composite has experienced pulled back from its recent peak of 4370. The index is right above its 28 week moving average and we will see how it reacts to the support line.
Severe sector rotation mentioned last week has caused quite a few position changes in our model portfolios. Investors are dumping momentum stocks in favor of risk averse sectors. Four trading signals were issued this week with various profit and loss. Plus the trading signal last week, we have five of out eight position changes in our model portfolios. Amazingly, the international funds hold up pretty well in this round of volatility and outperform the domestic funds.
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| Weekly Chart of Nasdaq Composite Index |
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