Fund Rankings Update, 7/27/2018

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.

Stocks finished the week mixed with industrial sectors moving higher while technology sectors under performed due to FaceBook's one day plunge of 19% in its stock price. Companies have reported solid second quarter earnings so far but cautioned the headwind to come due to tariffs and trade tension. US GDP also grew at a strong pace of 4.1% in the second quarter. However, most of economists think it is not sustainable and the growth in the 2nd half of the year will most like;y fall back to 3%.  For the week,  S&P 500 index closed at 2818 up 0.61%, Dow Jones Industrial Average gained 1.57% while technology laden NASDAQ composite index decreased 1.06%.

Weekly chart of S&P 500 index

S&P 500 index struggled to break out from 2800 level this week as observed in the weekly chart. The index was carried higher by its high momentum reaching closer to 2850 but went back down to 2818.  We may see some consolidation in the next few weeks if it fails to move decisively higher. 

Fund Rankings Update, 7/20/2018

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 finished the week almost flat. Investors were trying to digest the earning news from major corporations while  shrugging of President Trump's threat to apply tariffs to all Chinese $500 billion imports.  For the week,  S&P 500 index closed at 2801 up 0.02%, Dow Jones Industrial Average gained 0.15% while technology laden NASDAQ composite index decreased 0.07%.

Weekly chart of S&P 500 index

S&P 500 index struggled a bit at 2800 resistance level this past week. With momentum indicator climbing higher, we think the index will continue to move up as opposed to 5 weeks ago when the index tumbled for two weeks after similar pattern at 2791. 

Fund Rankings Update, 7/13/2018

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 continue to advance on optimism about quarterly corporate earnings.  For the week,  S&P 500 index closed at 2801 up 1.502%, Dow Jones Industrial Average gained 2.3% and technology laden NASDAQ composite index increased 1.79%.

Weekly chart of S&P 500 index

S&P 500 index just broke above the 2800 resistance by one point. The index is slowly trending higher as the momentum indicator turned back up. The chart pattern agrees with our thesis about a moderate up trend with higher volatility this year.

Fund Rankings Update, 7/6/2018

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.

Stronger than expected job report outweighed the worries about trade war in this holiday-shorten trading week.   For the week,  S&P 500 index closed at 2759 up 1.52%, Dow Jones Industrial Average gained 0.76% and technology laden NASDAQ composite index increased 2.37%.

Weekly chart of S&P 500 index

On the weekly chart of S&P 500, we can see the index was supported by the 28 week moving average from below and bounded by 2800 from the top. Momentum of S&P 500 has weaken a bit, its STO[15,1] has fallen below the overbought threshold of 80. Breaking above the 2800 resistance level is a key for this index to continue its up trend. As investors come back from vacation next week, we will see trading volume picks up and a clearer market direction.