Fund Rankings Update, 4/8/2016

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.

Concern about interest rate hike and oil prices pushed investors to the side line and gave stocks a meaningful decline in two months. For the week S&P 500 index closed at 2047, down 1.21%, Dow Jones Industrial Average lost 1.21% while technology laden NASDAQ composite index decreased 1.3%.

Weekly chart of S&P 500 index

 After breaking above the 2050 resistance level, the S&P 500 index came down to test the level as a support. Continuation of the rally will rely on S&P 500 index to stay above the 2050 level. If the index can consolidate for the next couple of week above 2050, it has a great chance to break the previous high of 2125 level.