Fund Rankings Update, 9/25/2015

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.

Trading signal occurs in ETF model portfolio: Sell IDU, Buy Cash.
 
Investors continued the selling from last week before Fed Chair Janet Yellen's remark Friday that the Fed is still on track to raise rate this year.  Report on better than expected second quarter GDP also boosted investors confidence about US economy.  For the week S&P 500 index closed at 1908, down 1.36%, Dow Jones Industrial Average lost 0.43% and Nasdaq composite index ended up lower by decreasing 2.92%.

Weekly chart of S&P 500 index

Here we are, six weeks into this correction. S&P 500 index is trading in 2000 - 1900 range, and its momentum looks to be stabilized on the lower end. Among the sectors, we are seeing bio tech index plunged due to Hillary Clinton's price gouging comment on drug prices, and Volkswagen's (VW) stock prices fell sharply after the company admitted its cheating in Federal emission test.  I think we are about  half way into this correction phase. The 28 week moving average for S&P 500 index currently stands at 2037 and acts as a resistance.  As the index stays in the trading range for anther few weeks, we will see the moving average come down close to 2000 and will provide the index a chance to break the resistance. We will see how this all play out in the next few weeks.