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.