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.
Done Jones Industrial Average fell 200 points Friday due to collapse of Turkish currency and tariff concern. The sharp drop erased the gain accumulated from the previous four days. Technology sectors and small cap stocks performed better than large cap stocks. For the week, S&P 500 index closed at 2833 down 0.25%, Dow Jones Industrial Average lost 0.59% while technology laden NASDAQ composite index increased 0.35%.
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| Weekly chart of S&P 500 index |
S&P 500 index climbed above the short term resistance of 2850 in mid-week but fail to hold the ground and ended up lower for the week. As discussed last week, we expect the index to break this short resistance due to its high momentum.
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