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 came out of the gate strong in the new year. Strong economic data pushed all major indices to their new high. For the week, S&P 500 index closed at 2743, up 2.60%, Dow Jones Industrial Average gained 2.33% and technology laden NASDAQ composite index increased 3.38%.
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| Weekly chart of S&P 500 index |
Stocks defied gravity and heading drastically higher right at the start of the new year. Carried by its momentum, S&P 500 index reached another new record high and increased the speed of its upward trajectory. As we are riding with the stocks on the way up and ripping the benefit, one should remain vigilant. No one has the crystal ball to predict the future. The best we can to is to diligently follow through or trading plan/system.
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