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.
Energy stocks entered bear market territory while bank, health care and technology stocks showed some strength. For the week, S&P 500 index closed at 2438, up 0.21%, Dow Jones Industrial Average gained 0.05% and NASDAQ composite index increased 1.84%.
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| Weekly chart of S&P 500 index |
S&P 500 index has been trading in a narrow range near the top of the trading channel for the past 3 weeks. While its momentum is still in the high gear, we may see some healthy pulled back in the coming weeks. The overall uptrend is still intact and no major direction change is expected.
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