Fund Rankings Update, 4/7/2017

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 declined a bit this week as investors waiting for policy change from Trump administration. We saw a big reversal in action on Wednesday: Stocks started strong in the morning with DJIA went up more than 140 points, but a sell-off occurred after speaker of the house announcing that Republican is not ready for tax reform, which pulled stocks into negative territory and DJIA ended up 100 points lower than where it started.  For the week, S&P 500 index closed at 2355, down 0.3%, Dow Jones Industrial Average lost 0.03% and the technology laden NASDAQ composite index decreased 0.57%.

Weekly chart of S&P 500 index

Momentum indicator of S&P 500 has come down from extreme overbought area and still heading downward in the weekly chart. However, the decline has been small and the up-trend looks to be intact. We think this consolidation will be flat with the index waiting for 28 week moving average to catch up, similar to the consolidations in July, and October last year.