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 backed down a bit after sharp rise a week before, while worries about trade war still kept the volatility in an elevated state. For the week, S&P 500 index closed at 2752, down 1.24%, Dow Jones Industrial Average lost 1.54% and technology laden NASDAQ composite index decreased 1.04%.
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| Weekly chart of S&P 500 index |
A short term resistance is forming at 2800 from weekly chart of S&P 500 index. Weekly momentum indicator, STO[15,1], of the index stands at a ho-hum 62 in the weekly chart indicating that the index does not have much fuel to climb higher right now. We may see the index trading between 2800 and the 28 week moving average for the next couple of weeks.
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