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 took a pause as government administration changing hands, and "Trump rally" stalled just before his inauguration. Positive earning reports failed to cheer the sentiment of investors as all eyes are on the policy uncertainty of the new administration. For the week, S&P 500 index closed at 2271, down 0.15%, Dow Jones Industrial Average lost 0.29% while technology laden NADASQ composite index decreased 0.34%.
 |
| Weekly chart of S&P 500 index |
S&P 500 index has been stalled for six weeks as seen on the weekly chart, waiting for the 28 week moving average to catch up. While on the daily chart, the momentum has been heading lower since late December last year. We expect the market direction to be flat with negative bias for another few weeks.
 |
| Daily chart of S&P 500 index |
No comments:
Post a Comment