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.
Stocks rallied after surprise win of Donald Trump for US presidential election and republican taking the control of both Senate and House. Dow Jones Industrial average initially tanked more than 800 points before the opening on the prospect of Donald Trump's presidency but recovered and started to rally as the reality set in and investors re-evaluated the pro-business stance of the Republican party. For the week S&P 500 index closed at 2164, up 3.8%, Dow Jones Industrial Average gained 5.36% and technology laden NASDAQ composite index increased 3.78%.
As political disturbance caused great volatility in the market, S&P 500 rebounded strongly and went back above the 28 week moving average support level. We will give this rally a couple of weeks to see if the rebound is robust.
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| Weekly chart of S&P 500 index |
As political disturbance caused great volatility in the market, S&P 500 rebounded strongly and went back above the 28 week moving average support level. We will give this rally a couple of weeks to see if the rebound is robust.
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