Fund Rankings Update, 3/3/2017

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 on Wednesday after President Trump's first speech before the congress Tuesday night. Investors like the affirmation of the lower tax, deregulation and pro-growth policies from this administration. On Friday, Fed Chair Janet Yellen indicated that a rate hike in March is almost a certainty due to positive economy outlook.  For the week, S&P 500 index closed at 2383, up 0.67%, Dow Jones Industrial Average gained 0.88% while technology laden NASDAQ composite index increased 0.44%.

Weekly chart of S&P 500 index

Technical picture of S&P 500 index remains the same. The index has gone up six weeks in a row and is more than 6% above its 28 week moving average. We think the market is due for a consolidation phase and caution is warranted.