Fund Rankings Update, 8/29/2014

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.

Positive economic data in 2nd quarter GDP out weighed the geopolitical tension in Ukraine this past week.  S&P 500 index stands at 2003, up 0.75%. Dow Jones Industrial Average gained 0.57%, and Nasdaq composite index increased 0.92% for the week.   

As shown in the weekly chart, S&P 500 index has resumed its up trend and reached the all time record high of 2000. It broke through 2000 on Monday and spent the next four days successfully defended the position.  As 2000 is an all time record high and a round number, we expect it to be a heavier psychological resistance and may cause more consolidation action. However, both daily and weekly momenta of the index are still heading higher, the intermediate up trend should stay intact.

Weekly chart of S&P 500 index