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%.

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.