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| Weekly chart of S&P 500 index |
Fund Rankings Update, 7/28/2017
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.
Stocks were flat this week. US GDP increased 2.6% for the second quarter, slightly lower than expectation but better than the 1.2% growth from the first quarter as economy picking steam. Energy stocks out performed other sectors as oil prices surged almost ten percent last week. In contrast to last week, only DJIA among major indices reached the new high. For the week, S&P 500 index closed at 2472, down 0.02%, Dow Jones Industrial Average gained 1.16% and NASDAQ composite index decreased 0.2%.
Our outlook remains positive for general stock markets as S&P 500 index continues to move upwards above its 28 week moving average with high momentum.
Fund Rankings Update, 7/21/2017
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.
Tradings signal occurs in iETF model portfolio: Sell EWP, Buy EWO
Favorable economic data from housing sector and employment report, together with strong corporate earning reports keep the rally going. All major indices except DJIA reached another new high. For the week, S&P 500 index closed at 2472, up 0.54%, Dow Jones Industrial Average lost 0.27% while NASDAQ composite index increased 1.19%.
After breaking 2450 resistance level, S&P 500 index managed to stay above the resistance and appears to successfully test the level mid-week. Stock market in general is weaker during summer months because of quieter trading activity. However, markets have been supported by strong corporate earnings and hope for economy growth in U.S so far. In the weekly chart, S&P 500 index continues to trend up with high momentum, and our outlook for the index stay positive.
In the sector front, technology sectors are still strong but bio-tech and health care funds have been gaining strength and moved up quickly in the sector fund ranking tables. For global funds, momentum ranking of Spain fund (EWP) has dropped out of the top 7 ranks and is replaced with the current top ranked Austria fund, EWO in our iETF model portfolio. Detail trading records can be seen in the "Trading Logs" page.
Favorable economic data from housing sector and employment report, together with strong corporate earning reports keep the rally going. All major indices except DJIA reached another new high. For the week, S&P 500 index closed at 2472, up 0.54%, Dow Jones Industrial Average lost 0.27% while NASDAQ composite index increased 1.19%.
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| Weekly chart of S&P 500 index |
After breaking 2450 resistance level, S&P 500 index managed to stay above the resistance and appears to successfully test the level mid-week. Stock market in general is weaker during summer months because of quieter trading activity. However, markets have been supported by strong corporate earnings and hope for economy growth in U.S so far. In the weekly chart, S&P 500 index continues to trend up with high momentum, and our outlook for the index stay positive.
In the sector front, technology sectors are still strong but bio-tech and health care funds have been gaining strength and moved up quickly in the sector fund ranking tables. For global funds, momentum ranking of Spain fund (EWP) has dropped out of the top 7 ranks and is replaced with the current top ranked Austria fund, EWO in our iETF model portfolio. Detail trading records can be seen in the "Trading Logs" page.
Fund Rankings Update, 7/14/2017
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.
Major indices reached new high while NASDAQ yielded the best results this week. For the week, S&P 500 index closed at 2459, up 1.41%, Dow Jones Industrial Average gained 1.04% and NASDAQ composite index increased 2.59%.
S&P 500 index broke above resistance at 2450 this week in weekly chart with momentum indicator reverse the downward direction. We will see if the index can stay above 2450 and resume its trend up in the next few weeks.
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| Weekly chart of S&P 500 index |
S&P 500 index broke above resistance at 2450 this week in weekly chart with momentum indicator reverse the downward direction. We will see if the index can stay above 2450 and resume its trend up in the next few weeks.
Fund Rankings Update, 7/7/2017
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 were saved by better than expected job report on Friday that US added 220 thousand jobs in June. All major indices managed to stay in the positive territory after sharp drop on Thursday. For the week, S&P 500 index closed at 2425, up 0.07%, Dow Jones Industrial Average gained 0.3% and NASDAQ composite index increased 0.21%.
S&P 500 index fell to 2400 on Thursday but climbed back above its 50 days moving average right away on Friday. Short term support at 2400 on weekly chart appears to be strong enough to hold this digestion of gain so far. Weekly momentum indicator of the index is at the border of falling out the overbought region. As its momentum slowly decreasing, we expect S&P 500 index to continue this consolidation for another few weeks.
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| Weekly chart of S&P 500 index |
S&P 500 index fell to 2400 on Thursday but climbed back above its 50 days moving average right away on Friday. Short term support at 2400 on weekly chart appears to be strong enough to hold this digestion of gain so far. Weekly momentum indicator of the index is at the border of falling out the overbought region. As its momentum slowly decreasing, we expect S&P 500 index to continue this consolidation for another few weeks.
Fund Rankings Update, 6/30/2017
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.
Weakness in technology stocks pulled down the markets. For the week, S&P 500 index closed at 2423, down 0.61%, Dow Jones Industrial Average lost 0.21% and NASDAQ composite index decreased 1.99%.
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| Weekly chart of S&P 500 index |
Banking and healthcare sectors are the two strong sectors supporting the general markets while energy sector and technology sector dragged down the market. S&P 500 pulled back from 2450 and rebounded at 2400 this week. Its momentum indicator has come down a bit but the index is still way above its trend line. We maintain the same outlook as last week and expect some pulled back ahead.
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