Fund Rankings Update, 6/1/2018

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.

Stock markets were affected by variety of factors this week: Italian election results raised the worries about the stability of Euro zone, Tariffs on EU, Canada, and Mexico's import of steel and aluminum rekindle the fear of trade war, and the strong US job reports announced on Friday giving investors confidence on the economy growth.   For the week,  S&P 500 index closed at 2734 up 0.49%, Dow Jones Industrial Average lost 0.48% and technology laden NASDAQ composite index increased 1.62%.

Weekly chart of S&P 500 index

Intermediate term momentum indicator STO[15, 1] of S&P 500 index has climbed above 50 and heading higher as shown in its weekly chart. The index has stayed above its 28 week moving average for eight weeks and has successfully tested the support several times. We expect the index to advanced higher with moderate speed as we have discussed before.