Fund Rankings Update, 11/24/2017

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 ITA, Buy ITB.

US stock markets closed Thursday for Thanksgiving holiday and closed early Friday but strong earnings from technology companies like Apple, Google, Facebook and Amazon pushed the major indices higher.  For the week, S&P 500 index closed at 2602, up 0.91%, Dow Jones Industrial Average gained 0.86% while NASDAQ composite index increased 1.57%.

Weekly chart of S&P 500 index

S&P 500 index closed above 2600 for the first time on light volume indicating a weak rally for the week. The index went side way for the past 5 weeks, and we will see if this is the resumption of the up-trend in the next couple weeks.

Momentum ranking of ITA fell below the threshold in sETF ranking table and a sell signal was issued in the sETF model portfolio. The fund is replaced with ITB, the current number one rank fund in sETF ranking table. We have held the ITA for 88 days with a gain of 8.2%.  sETF and SELECT both contain sector funds but SELECT  model portfolio has yielded better performance this year as it catches the strong uptrend in technology sector.    

Fund Rankings Update, 11/17/2017

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 retail sales increased 0.2% in October and housing starts also grew more than expected to 14%. The positive economy data failed to move the stock markets higher. Major stock indices closed the week in the negative territory again except technology laden NASDAQ composite index which bulked the trend and eked out a gain.  For the week, S&P 500 index closed at 2578, down 0.13%, Dow Jones Industrial Average lost 0.27% while NASDAQ composite index increased 0.47%.

Weekly chart of S&P 500 index

After indecision last week, S&P 500 index started to pull back from its record high 2 weeks ago. Momentum indicator of S&P 500 index is still on the extreme overbought region and have room for corrective action. However as the overall momentum is still on the high side, the pull back is viewed as temporary to digest the lofty gain in the past 10 weeks. The index likely will come down, get closer to its 28 week moving average before rebounding higher. 

 

Fund Rankings Update, 11/10/2017

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.

Major stock indices all closed the week in the negative territory ending eight weeks of winning streak as congress and senate republican unveiled details of their tax reform plans. Investors' hope for tax reform this year diminished as more details on were released with large gap between the plans making them difficult to reconcile between congress and senate republicans.  For the week, S&P 500 index closed at 2582, down 0.21%, Dow Jones Industrial Average lost 0.40% while NASDAQ composite index decreased 0.20%.

Weekly chart of S&P 500 index

S&P 500 index showed the first sign of consolidation after 8 weeks of winning streak. After reaching intra-week high near 2600, the index closed almost where it was at the beginning of the week. The pattern shows the indecision of the index at the top of the top end of it upward trading channel. It is likely that we may see it goes side way with downside bias in the next few weeks. This is consistent with our recent thesis that the index needs to digest its lofty gain if the rally is to continue. 

Fund Rankings Update, 11/03/2017

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.

With favorable view on President Trump's nominee for the next Federal Reserve Chair and Apple's quarterly earnings blew past analysts' estimates, all major indices advanced to record high again.  For the week, S&P 500 index closed at 2587, up 0.26%, Dow Jones Industrial Average gained 0.45% while NASDAQ composite index increased 0.94%.

Weekly chart of S&P 500 index

Technical picture of S$P 500 index stay the same. The index is above the trend line with high momentum. The only concern is that it is too far above the trend line, which may cause short term pull back to keep the tend sustainable.