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.