Fund Rankings Update, 9/1/2017

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 ahead of the labor day long weekend with low volume. For the week, S&P 500 index closed at 2476, up 1.37%, Dow Jones Industrial Average gained 0.8% and NASDAQ composite index increased 2.71%.

Weekly chart of S&P 500 index

In the weekly chart, S&P 500 index bounced from 2400 level last week and continue to going up this week. Its STO momentum indicator reverses the downward direction and heads back up. To continue the rally, the index has to break above 2500 level creating a higher high pattern. In the meantime, we may see it trading between 2400 to 2500 for a while before volume picks up.