Fund Rankings Update, 8/25/2017

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.

Trading signal occurs in sETF model portfolio: Sell ITB, Buy ITA

Stocks went up in the light trading week. With company earning report season behind us, political news about tax reform, and North Korea seems to drove the market direction. For the week, S&P 500 index closed at 2443, up 0.72%, Dow Jones Industrial Average gained 0.64% and NASDAQ composite index increased 0.79%

Weekly chart of S&P 500 index 

Weekly momentum indicator of S&P 500 index has fallen fast while the index still managed to stay above the supporting trend line. As discussed last week, the index is near the intermediate term support level of 2400. 2400 used to be a strong resistance and we will see if it has turned into a strong support.

In the sector rotation area, home construction index fund (ITB) has been weak in the past few weeks. Momentum rank of ITB has been stalled and fallen out of the top ranks in our sector fund (sETF) ranking table this week. A trading signal is issued in the sETF model portfolio, and the fund is replaced with the current number one ranked fund, ITA, for aero and defense.  

Fund Rankings Update, 8/18/2017

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 went up at the beginning of the week as tension with North Korea receded. However, political instability in White House darken investors' confidence with Dow Jones Industrial Average dropping 274 points on Thursday.   For the week, S&P 500 index closed at 2428, down 0.65%, Dow Jones Industrial Average lost 0.84% and NASDAQ composite index decreased 0.64%

Weekly chart of S&P 500 ndex

In weekly chart, S&P 500 index is going through redistribution phase. The STO momentum indicator falls below 80 and heading downward. The index is still above its 28 moving average which stands close to the intermediate term support of 2400. This up-trend has been 10 month old with 20% gain so far. It needs a healthy pull back to digest the gain and move higher.

Fund Rankings Update, 8/11/2017

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.

Worrying about the escalated tension between US and North Korea, investors move to defensive position and sent the stock markets lower.  Notably, technology laden Nasdaq composite index lost 2.13% on Thursday.  For the week, S&P 500 index closed at 2441, down 1.43%, Dow Jones Industrial Average lost 1.06% and NASDAQ composite index decreased 1.5%

Weekly chart of S&P 500 index

With the down week on wall street, S&P 500 index still trading in the rising channel in the weekly chart. The index still stays above 28 week moving average and posses high momentum. Our outlook remains the same that the index will grind higher with minor redistribution along the way.

Fund Rankings Update, 8/4/2017

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.

US economy created 209000 new jobs in July more than the 175000 jobs expected. The unemployment rate dipped to 4.3%, the lowest in 16 years.  The job report pushed Dow Jones Industrial Average higher making its nine day winning streak since February.  For the week, S&P 500 index closed at 2476, up 0.19%, Dow Jones Industrial Average gained 1.2% and NASDAQ composite index decreased 0.36%.

Weekly chart of S&P 500 index

S&P 500 continues to climb higher with high momentum. The short term support lies at 2450 and the intermediate term support is not far below at 2400. The up-trend is supported by strong corporate earning and underlying strength in US economy. It is likely that the index will keep grinding higher but experience minor redistribution along the way.