Fund Rankings Update, 2/9/2018

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 plunged more than previous week as sell-off continued and volatility reached record high. DJIA had intraday swing of more than 500 points for six days and fell more than 1000 points on Monday and Thursday.  For the week, S&P 500 index closed at 27622, down 3.85%, Dow Jones Industrial Average lost 4.12% and technology laden NASDAQ composite index decreased 3.53%.

Weekly chart of S&P 500 index

S&P 500 index fell sharply below its 28-week moving average in two weeks and close right at the trend line around 2600 level. The index has plunged 9% from its record high at 2872 two weeks ago. We expect the high fluctuation will continue for another couple of weeks before stocks settle down to a more normal sustainable path. Our trading systems look for intermediate trend and are not that sensitive to the short term abrupt sell-off. Adherent to the trading plan is the best way forward in these kind of situations.