Fund Rankings Update, 10/09/2015

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 continued marching higher as Alcoa kicked off third quarter earning report season and investors' hope of Fed not raising interest rate this year arised. For the week S&P 500 index closed at 2014, up 3.26%, Dow Jones Industrial Average gained 3.72% and Nasdaq composite index ended up higher by increasing 2.61%.

Weekly chart of S&P 500 index

 S&P 500 index formed a double bottom on its weekly chart and closed in on its 28 week moving average. Weekly Momentum indicator is slowly rising but STO is still below 50. The correction phase should complete in another 3 - 4 weeks and we will see how the index behaves afterwards.