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.
US job report showed increase of only 138,000 jobs in May, lower than expectation but major stock indices still trending higher. For the week, S&P 500 index closed at 2439, up 0.96%, Dow Jones Industrial Average gained 0.6% and NASDAQ composite index increased 1.54%.
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| Weekly chart of S&P 500 index |
S&P 500 index first reached the intra-week high of 2400 in February. After struggling for 11 weeks and several attempts, it finally closed above the 2400 resistance last week and advanced even higher this week. With the resistance behind its back, we expect the index to continue the uptrend and climb higher.
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