Fund Rankings Update, 2/20/2015

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.


Major indices marched to all time high as investor sentiment became more positive, and euro zone agreed to extend Greece's debt relief for another four months.  S&P 500 index closed at 2110, up 0.63%, Dow Jones Industrial Average gained 0.67%, and Nasdaq composite index increased 1.27%.  

Continuing the upward momentum in the last two weeks, S&P 500 index has moved up and traded in the rising channel again. All the technical indicators are in favorable conditions and this up trend is expected to last for another few weeks at least. 

Weekly chart of S&P 500 Index

The weekly chart of crude oil price looks interesting from technical point of view. The stochastic momentum indicator has just climbed above 20, out of the extreme oversold condition. Its weekly price has dropped to the first bottom around $45 and has not been able to break above $55 in the last three weeks. The $WTIC index may fall back to the $45 level to form the second bottom of a "W". A short term trading can be made by buying it around $45 and sell it at $55, or A longer term trading can be made by buying around $45, hold it longer and sell at the trend line resistance or other prices above $55 level. 

Weekly chart of light crude oil price