Fund Rankings Update, 4/27/2018

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.

Concern about rising interest rate weighed in on the stock markets while strong Q1 earning provided solid support. Stocks closed the week with little change.  S&P 500 index closed at 2669, down 0.01%, Dow Jones Industrial Average lost 0.62% and technology laden NASDAQ composite index decreased 0.37%.

Weekly chart of S&P 500 index

S&P 500 index went below 28 week moving average intra-week but climbed above the support for the week in the weekly chart. In fact, the S&P 500 went down to test the 200 day moving average in daily chart Tuesday and Wednesday, and successfully defended the Tuesday selloff.  With the successfully test  of intermediate term support and with weekly momentum indicator turning upwards, we think the market is finishing its consolidation phase and moving to recovering phase while the volatility will remain at the elevated state.