Trading signal occurs in FEMKX model portfolio: Sell FEMKX, Buy Cash.
Stocks ended volatile week on a up note with technology sector and smap caps leading the way. Positive industrial output and housing start boosted the markets higher while worries about interest rate hike from the Fed pushed down the markets. For the week S&P 500 index closed at 2052, up 0.28%, Dow Jones Industrial Average lost 0.2% and the technology laden NASDAQ composite index increased 1.1%.
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| Weekly chart of S&P 500 index |
In the weekly chart, S&P 500 index touched the 28 week moving average and rebounded right away to keep the index above the support line. Successful test of support is key to continue the rally. We will see if the S&P 500 index can conclude the consolidating phase in the next couple of weeks to reverse the down trend or it will fall through the 28 week moving average support line and continue the down trend started in June last year.
This week a trading signal was issued from FEMKX timing system as the momentum indicator, STO, fell below the selling threshold of 75. We have held FEMKX for 67 days with a gain of 2.29%.
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