Fund Rankings Update, 10/16/2015

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.

Drops in the consumer price index and weekly jobless claim couple with a rise of consumer sentiment help stocks maintaining their upward momentum following last week's strong gain. For the week S&P 500 index closed at 2033, up 0.9%, Dow Jones Industrial Average gained 0.77% and Nasdaq composite index ended up higher by increasing 1.16%.

Weekly chart of S&P 500 index

 All major indices have rise up to touch their 28 week moving average. In the weekly chart of S&P 500 index, the index has climbed up above the first peak of "W" bottom at 2020 and closed up just a bit above its 28 week moving average. The momentum indicator, STO, has reached 50 from below. If this upward momentum continues for another 2-3 weeks, the correction phase will complete just as we have discussed in the past blogs.