Fund Rankings Update, 10/13/2017

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.

Strong economic data in employment and retail sales were balanced out by political turmoil in Washington as we enter the 3rd quarter earning season. Stocks closed mostly flat after reaching record high a week ago.  For the week, S&P 500 index closed at 2553, up 0.15%, Dow Jones Industrial Average gained 0.43% while NASDAQ composite index increased 0.24%.

Weekly chart of S&P 500 index

The momentum carries the S&P to a new high this week with a small gain. Note that an indecision Doji candle stick pattern was formed in the weekly chart this week as well. In a Doji candle stick pattern, the index reached its high and low during the week but ended up where it began at the start of the week. The Doji pattern usually indicates an oncoming price reversal as the index is trading at the top of its trading channel, which is consistent of our observation last week.