Trading signal occurs in HSA model portfolio: Sell Cash, Buy IUTIX
Trading signal occurs in ETF model portfolio: Sell IYR, Buy IDU
Trading signal occurs in sETF model portfolio: Sell ICF, Buy IDU
Stock markets, still under great influence from oil prices, went down for another week. Oil prices fell sharply Monday and drove down the general stock markets for most of the week. Rumor of production cut propped up oil prices by 11% on Friday and boosted stock prices to lessen the damage. Friday's economy data about decreasing jobless claims and better than expected retail sales in January also provided gleams of hope for investors. For the week S&P 500 index closed at 1864, down 0.81%, Dow Jones Industrial Average lost 1.34% while technology laden NASDAQ composite index decreased 0.59%.
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| Weekly chart of S&P 500 index |
Another "Hammer" pattern showed up in the weekly chart of S&P 500 index this week. The index went down to 1810 before climbing back near 1875 level. It appears that the second leg of "W" bottom has been formed and the momentum indicator is rebounding. We should see stock markets stabilized in the next few weeks.
In addition to the charting technical, some of our model portfolios also issued trading signals to move away from cash position this week. As utility funds and income funds gaining momentum, HSA, ETF, and sETF model portfolios have issued trading signals to buy into income oriented funds.
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