Fund Rankings Update, 12/09/2016

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.

After a pause last week, stocks continued to march higher with all major indices setting record high. Positive economy data in factory orders and service sector activities together with expectation of pro-business policy from new administration are the major driving factor for this rally. For the week, S&P 500 index closed at 2191, up 3.08%, Dow Jones Industrial Average gained 3.06% and technology laden NASDAQ composite index increased 3.59%.

Weekly chart of S&P 500 index

S&P 500 index broke above the previous high of 2193 two weeks ago, went back down and successfully test it last week as seen from its weekly chart. With the test behind its back, we expect the index to continue marching higher for another few weeks. Small caps, Finance, and Energy related sectors are the favorite sectors in this rally.