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%.
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| 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.
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.
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