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 rebounded sharply after two weeks of deep dives. Volatility receded but still in an elevated state. Technology sectors together with financial and healthcare outperformed the general markets. For the week, S&P 500 index closed at 2732, up 4.3%, Dow Jones Industrial Average gained 4.25% and technology laden NASDAQ composite index increased 5.31%.
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| Weekly chart of S&P 500 index |
S&P 500 index redounded from its 28 week moving average as seen in the weekly chart. Large red candles and white candle indicate the elevated volatility. We expect the volatility to continue for another few weeks before the market resume its direction.
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