Fund Rankings Update, 9/11/2015

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 rebounded but still with big swing during this holiday-shorten week. China's economy growth and timing of Fed's first rate hike since 2006 are still the major concern on investors' mind.  For the week S&P 500 index closed at 1961, up 2.01%, Dow Jones Industrial Average gained 2.05% and Nasdaq composite index ended up higher by increasing 2.96%.

Weekly Chart of S&P 500 index

S&P 500 index has been below its trend line for four weeks as seen in the weekly chart. This week we saw the index attempted to break and fail again at the 2000 resistance level.  It took the index 12 weeks to climb back above the trend line in 2011 correction so it may take about the same time to climb back this time. Judging from the trading pattern in the past two week, this is a very likely scenario. If this pans out, we will be in time for a year end rally.  As we are mostly out of the markets to avoid the further down side right now, we can wait  for the opportunity to get back in later.