Fund Rankings Update, 9/21/2018

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 continued to march higher as investors were encouraged by positive economic data in jobless claim, and regional manufacturing activities. Escalation of trade tension between US and China did not sway the mood in the markets.  However, technology sectors and small cap stocks under-performed the markets and recorded a small loss.  For the week,  S&P 500 index closed at 2929 up 0.85%, Dow Jones Industrial Average gained 2.25% while technology laden NASDAQ composite index decreased 0.29%.

Weekly chart of S&P 500 index

Weekly chart of S&P shows a steady up rise trend since July. It has gone up from 2700 to 2950, a 9% increase in less than 3 months. The index still posses a very high momentum, and the uptrend appears to be intact. We expect the index to keep marching higher and don't expect change in the market direction in the near future.