Fund Rankings Update, 7/29/2016

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.

Better than expected company earnings from Google and Amazon boosted investor sentiment but the weaker than expected second quarter GDP put a damper on the rally.  Stocks ended up mixed for the week. Small cap and technology stocks leading the way while large cap stocks were flat.  For the week S&P 500 index closed at 2173, down 0.07%, Dow Jones Industrial Average lost 0.75% while technology laden NASDAQ composite index increased 1.22%.

Weekly chart of S&P 500 index

Momentum indicator is at an extreme overbought condition in the weekly chart of S&P 500 index. After making the new high, the index failed to push higher and ended where it was at the beginning of the week. It is likely that the index will enter the consolidation phase in the next few weeks.  Weekly chart below shows that the momentum indicator of Nasdaq composite index is also at the extreme overbought condition, but the index still climbed higher this week.  It looks like Nasdaq composite index will have a few more weeks to go than S&P 500 index before entering consolidation phase.  

Weekly chart of Nasdaq Composite index

Fund Rankings Update, 7/22/2016

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.

Better than expected company earning reports continued to push stocks higher for the forth week.  For the week S&P 500 index closed at 2175, up 0.61%, Dow Jones Industrial Average gained 0.29% and the technology laden NASDAQ composite index increased 1.4%.

Weekly chart of S&P 500 index

S&P 500 index has made new high in the past consecutive weeks after breaking the resistance level at 2125. The index is more than 5% above its 28 week moving average, a consolidation phase is expected in the next few weeks so the market can digest its 9% gain since the Brexit.   

Fund Rankings Update, 07/15/2016

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.

Boosted by positive market sentiment better than expected company earning reports and encouraging economic data, stocks continued to march higher and made new high. For the week S&P 500 index closed at 2161, up 1.49%, Dow Jones Industrial Average gained 2.04% and the technology laden NASDAQ composite index increased 1.47%.

Weekly chart of S&P 500 index

S&P 500 did not look back after breaking above the strong 2125 resistance level last week. Its already strong weekly momentum is trending higher to carry the index further. The 2125 level now turns into a support level and we expect the index to come down in a few weeks to test this level. Continuation of the uptrend won't be confirmed unless the support is successfully tested.

Fund Rankings Update, 7/8/2016

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.

Trading signal occurs in FEMKX model portfolio: Sell Cash, Buy FEMKX.

Stocks continued post-Brexit rally with the help from better than expected job report on Friday. For the week S&P 500 index closed at 2129, up 1.28%, Dow Jones Industrial Average gained 1.1% and the technology laden NASDAQ composite index increased 1.94%.

Weekly chart of S&P 500 index

Fund Rankings Update, 7/1/2016

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.

Markets shook off panic from Brexit and recovered this week. Stocks continued to declined Monday but bounced back Tuesday, held on to the gain and headed higher. For the week S&P 500 index closed at 2102, up 3.22%, Dow Jones Industrial Average gained 3.155% and the technology laden NASDAQ composite index increased 3.28%.

Weekly chart of S&P 500 index

After the big rebound from 28 week moving average, S&P 500 index went back to the 2100 major resistance level again. The STO momentum indicator is in the neutral zone but the 28 week moving average support around 2050 looks solid. It is likely that the index will continue to trade in the range for another few weeks as it has been since April.