Fund Rankings Update, 5/11/2018

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 advanced higher with energy sectors and financial sectors leading the way. Oil prices has risen above $70, the first time since 2014. Strong company earnings for the first quarter provides a solid support for the stock markets, and investors are encouraged by the tamed inflation data for consumer price index.  For the week,  S&P 500 index closed at 2727, up 2.41%, Dow Jones Industrial Average gained 2.342% and technology laden NASDAQ composite index increased 2.68%.

Weekly chart of S&P 500 index

S&P 500 index broke its downward trend since end of January and rebounded sharply from its 28 week moving average as seen in the weekly chart. The action confirms our previous discussion that the index is completing its consolidation phase and ready to resume its uptrend. Going forwards, we see market volatility remains on the elevated states as geopolitical tension and fed tightening policy provides the fluctuation, and the growth rate of the index will be much less than the last uptrend as we are in the matured stage of economy expansion cycle harvesting all the stimulus effects in the last two years.