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.