Mixed economic news with strong manufacturing and service sector data and weak employment data ease investors' fear of FED's rate hike. News about cease fire agreement in Ukraine also help the market to elk out a small gain. S&P 500 index stands at 2007, up 0.22%. Dow Jones Industrial Average gained 0.23%, and Nasdaq composite index increased 0.06% for the week.
Technical picture of S&P 500 index remains the same as last week. The index is trying to consolidate above 2000 for the second week waiting for the trend line to catch up while daily and weekly momentum stay high.
Growth funds have outpaced valued funds in the past couple of months. A trading signal occurs in HSA model portfolio was issued to sell TVAFX which has fell to 7 in the momentum ranking table. We will replace the fund with the current number one ranked fund, OPMYX (see detail in Ranking and Trading Log pages). The model portfolio has held TVAFX for 263 days with a gain of 13.4%.
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| Weekly chart of S&P 500 index |
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