Fund Rankings Update, 11/30/2018

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.

Major indices rebounded from their oversold levels encouraged by positive Thanksgiving sales data and Fed chair's comment about interest rate being close to neutral level.  For the week, S&P 500 index closed at 2760 up 4.85%, Dow Jones Industrial Average gained 5.16% and technology laden NASDAQ composite index increased 5.64%.

Weekly chart of S&P 500 index

Even with the strong rebound from ~2620 supporting level, the S&P 500 index still close below its 28 week moving average as seen in the weekly chart. The weekly momentum indicator has bounced off the threshold of 20 but is still not out of the wood yet. As the trend line is sloping down and the index has not been able to close above the resistance, we expect S&P 500 index to stay below trading between the trend line resistance and the supporting level for another few weeks.