Fund Rankings Update, 6/29/2018

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.

Trading signal occurs in iETF portfolio: Sell EWU, Buy EWC

Stocks went down the second week due to fear of trade war between US and China. Economy data did not improve investor sentiment either. Second quarter GDP was revised down from 2.2 % to 2.0 %, and new durable good orders went down 0.6% in May.   For the week,  S&P 500 index closed at 2718 down 1.33%, Dow Jones Industrial Average lost 1.26% and technology laden NASDAQ composite index decreased 2.37%.

Weekly chart of S&P 500 index

S&P 500 index retested its 28 week moving average last week and successfully rebounded from the support as seen in the weekly chart above. We think the uptrend is still intact as long as the index can hold above its trend line. On the sector front, real estate and energy sectors are out-performing the general markets while financial related sectors are lagging. We are at the late stage of economic cycle but are not at the end yet. Higher volatility and lower growth are expected going forwards.