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%.
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| 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.
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