Fund Rankings Update, 4/28/2017

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.

Trading signal occurs in SSPP model portfolio: Sell FDGRX, Buy FEMKX

Stocks rallied from start of the week due to outcome from French election and strong corporate earning reports. Technology laden NASDAQ composite index outperformed other major indices exceeding the 6000 threshold for the first time in 17 years. For the week, S&P 500 index closed at 2384, up 1.51%, Dow Jones Industrial Average gained 1.91% and NASDAQ composite index increased 2.322%.

Weekly chart of S&P 500 index

S&P 500 index bounced off strongly from the short term support of 2325 but failed to broke above the psychological resistance at 2400 as shown in the weekly chart. We will see if the index will break above the 2400 resistance to resume it up-trend. Momentum indicator of S&P 500 appears to be sloping down even though it perked up a bit this week. Our flat consolidation outlook remains the same until the index breaks above 2400 level.