Trading signal occurs in RSP model portfolio: Sell SSGA REIT (42627), Buy FNMIX.
Stocks reversed the decline and went higher this week. Jumps in oil prices due to agreement between Saudi and Russian, favorable economic from China and better than expected earning from large banks are the major factors for the rally. For the week S&P 500 index closed at 2080, up 1.21%, Dow Jones Industrial Average gained 1.21% while technology laden NASDAQ composite index increased 1.8%.
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| Weekly chart of S&P 500 index |
S&P 500 index still shows high momentum in the weekly chart and stays above its 28 week moving average. The rally from the bottom of 1810 looks to be continued. The rally has caused rotation in industrial sectors. Energy related sectors has gained momentum while technology related sectors move out of favor. Due to momentum change, a trading signal has been issued in RSP model portfolio to move out of SSgA REIT index fund and buy in to Fidelity new market income fund (FNMIX). Detail trading record can be found in the "Trading Logs" page.
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