Fund Rankings Update, 6/15/2018

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 closed mixed this week. Retail sales went up more than expected in May while Fed raised fed fund rate by quarter point on Wednesday and indicated two more rate hikes coming by the end of the year.  Friday, Trump administration slapped tariff on 50 billion China imports wile China retaliated with tariff on 34 billions of US goods. Trade war with China and potentially with US allies put a damper on investors sentiment at the end of the week.   For the week,  S&P 500 index closed at 2779 up 0.02%, Dow Jones Industrial Average lost 0.89% while technology laden NASDAQ composite index increased 1.32%.

Weekly chart of S&P 500 index

S&P 500 index took a breather this week, closed almost flat. Its momentum indicator, slow STO, has just entered overbought region. We expect the index to continue marching higher once it break the short term resistance at 2800.