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%.
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| 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.
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