Fund Rankings Update, 8/15/2014

Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted at "Rankings", "Trading Logs" pages, and  http://ycprankings.awardspace.us/RankingTables.htm.

Stocks continued its rebound amid summer's light trading.  S&P 500 index stands at 1955, up 1.22%. Dow Jones Industrial Average gained 0.66%, and technology loaded Nasdaq composite index increase 2.15% for the week.   

S&P 500 index, following the past pattern, rebounded from trend line after forming a long tail candle in the weekly chart (see last week's blog). In the daily chart, the index has climbed back to its 50 day moving average, the STO indicator is crossing above 50, and the MACD has turned positive. As stated last week, investors who can tolerate higher risk level can start buying into the market to catch the next wave up. 

Weekly chart of SP 500 index

Daily chart of S&P 500 index