Fund Rankings Update, 6/26/2015

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

Stocks open the week higher but weighed down by ongoing Greek debt saga. However, positive existing and new home sales in US provided a glimpse of hope for the second half of the year.   For the week S&P 500 index closed at 2101, down 0.4%, Dow Jones Industrial Average lost 0.38% and Nasdaq composite index ended up lower by decreasing 0.7%. 

Weekly chart of S&P 500 Index

Technical picture of S&P 500 index remains the same.  In the weekly chart, the index still stays above its 28 week moving average, while the momentum has stopped falling. It appears that market is awaiting the outcome from Greek debt situation, and we just have to see how that plays out.  

Fund Rankings Update, 6/19/2015

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

Dovish message on short term interest rate from Fed policy meeting Wednesday boost investor sentiment while worries about Greece' debt crisis subsided a bit this week.  Stocks opened lower on Monday but quickly rebounded and climbed higher the next three days before profit taking on Friday.  For the week S&P 500 index closed at 2109, up 0.76%, Dow Jones Industrial Average gained 0.65% and Nasdaq composite index ended up higher by increasing 1.3%. 

Weekly chart of S&P 500 index

In the past two weeks, S&P 500 index has rebounded from the 28 week moving average supporting trend line. The index has been "flat" since February, trading between 2040 to 2120. As discussed before, the trend line support of the index appears to be very strong, while its momentum is decreasing. The "flat" correction will continue for another few weeks.

Fund Rankings Update, 06/12/2015

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

Greece' debt crisis dominated the sentiment on Wall street even though favorable data showed US economy expanded in May with strong retail sales and consumer sentiment.  After two down days, Dow Jones Industrial Average jumped more than 230 points on Wednesday and rose modestly on Thursday. Profit taking and concern on global economy pulled down the stock market Friday.  For the week S&P 500 index closed at 2094, up 0.06%, Dow Jones Industrial Average gained 0.28% while Nasdaq composite index ended up almost flat by decreasing only 0.34%. 

Weekly chart of S&P 500 index

Weekly chart of S&P 500 index shows that the momentum of the index is heading downwards since mid May while the index is flat trading around 2100 since February and magically stays above its 28 week moving average. It looks like the index is in a flat correction mode where the index stays in a horizontal trading channel while the momentum indicator falls to over sold condition. As discussed last week, we expect the STO indicator to fall below 50 and the trend less pattern to last for another few weeks. 

 

Fund Rankings Update, 6/5/2015

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

Worries about Greece defaulting its debt and US Federal Reserve raising interest rate outweighed economy data showing robust expansion of construction and manufacturing activities. For the week S&P 500 index closed at 2092, down 0.69%, Dow Jones Industrial Average lost 0.9% while Nasdaq composite index ended up almost flat by decreasing only 0.03%.

Weekly chart of S&P 500 index

S&P500 index still manage to keep the up trend alive by staying above its 28 week moving average. Its momentum has been decreasing for the past 3 weeks, and the index has moved away from the over bought condition. With momentum in the neutral zone and the seasonal trendless action during the summer, the market may be flat for a few more weeks.