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.
Trading signal occurs in SSPP model portfolio: Sell FIUIX, Buy CASH
Trading signal occurs in SELECT model: portfolio: Sell FSHCX, Buy FSLXX
Stocks plunged further into bear territory after Fed raised the interest rate by quarter point. Looming government shutdown at midnight Friday also weighed in on investor sentiment. For the week, S&P 500 index closed at 2416 down 7.05%, Dow Jones Industrial Average lost 6.878% and technology laden NASDAQ composite index decreased 8.36%.
 |
| Weekly chart of S&P 500 index |
S&P 500 has plunged more than 17% from its peak at 2940 in September and closed above the round number support at 2400 this week with weekly momentum indicator at its lowest level in more than 5 years. With all the negativity, it is easy to expect the continuation of the down trend. Looking down, there is a 200 week moving average support around 2350 and a stronger support at 2100. We will see how the index react at these critical levels.
With the steep decline and overwhelming negative sentiment, our model portfolios are all moved to either sideline or ultra conservative position. Two trading signals were issued in SSPP and SELECT model portfolios to moved to cash positions. Momentum ranking method is a trend following method, and we will follow what the market is telling us.
1 comment:
Professionally written blogs are rare to find, however I appreciate all the points mentioned here. I also want to include some other writing skills which everyone must aware of.
Fx trading system คืออะไร
Post a Comment