Fund Rankings Update, 9/28/2018

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.

The third quarter comes to an end this weekend as institution investors dressed up their investment portfolios before quarterly reporting. Note that stocks has gone up 7.2% this quarter, the strongest performance since 2013.  On the economy front, Federal Reserved raised Fed fund rate by 0.25% as expected on Wednesday and the Fed is expected to continue raising interest rate every quarter by 0.25% though next year due to strong economic growth. Major stock indices closed the week mixed with technology and consumer discretionary sectors leading the markets while material and financial sectors lagging. For the week,  S&P 500 index closed at 2913 down 0.54%, Dow Jones Industrial Average lost 1.07% while technology laden NASDAQ composite index increased 0.74%.

Weekly chart of S&P 500 index

Weekly chart of S&P 500 index shows a very robust uptrend along the top of its trending channel. With high momentum and low volatility, we expect the the index to keep trending up in the fourth quarter.