Fund Rankings Update, 3/29/2019

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 went up broadly last week and close the first quarter 13% higher than beginning of the year, the best quarterly performance in a decade. The strong performance is due to a few factors: the rebound from the extreme oversold condition in December, Fed's interest rate policy change to a dovish stance due to economic slow down, and the optimism about the trade talk between US and China.   For the week, S&P 500 index closed at 2834 up 1.2%, Dow Jones Industrial Average gained 1.67% and technology laden NASDAQ composite index increased 1.13%.

Weekly chart of S&P 500 index

Technical picture of the S&P 500 index stays the same as the past few weeks. The index is above its 28 week moving average with high momentum, and we expect the uptrend to continue for a while.

Fund Rankings Update, 3/22/2019

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 iETF model portfolio: Sell EWZ, Buy EWH

Fear about recession pulled stock markets downward on Friday with Dow Jones Industrial Average plunging more than 450 points, the worst day since January. Federal Reserve's holding interest rate unchanged on Wednesday and reducing its forecast of rate hike to one or none this year also reinforced the view of economic slowdown.  For the week, S&P 500 index closed at 2800 down 0.77%, Dow Jones Industrial Average lost 1.34% and technology laden NASDAQ composite index decreased 0.6%.

Weekly chart of S$P 500 index

With the selloff on Friday, S&P 500 index still stays above the 2800 round number resistance it broke through 3 weeks ago. Looking down, the index is more than 2% above its 28 week moving average. After the strong rebound, stocks are looking for a moderate path to go forward. We think the index will experience short term swing but the intermediate uptrend is till intact. 

Fund Rankings Update, 3/15/2019

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 HSA model portfolio: Sell VEMAX, Buy FKAIX

Stocks reversed its loss from previous week and posted solid gain for the week.  Manufacturing activities slowed in February while durable good order jumped in January giving investors hope for a rebound in business investment. For the week, S&P 500 index closed at 2822 up 2.89%, Dow Jones Industrial Average gained 1.57% and technology laden NASDAQ composite index increased 3.78%.

Weekly chart of S&P 500 index

After successfully testing the 28 week moving average, the S&P 500 index turned positive and close higher than the round number resistance of 2800 this week. As the index still poses high momentum and stay above the trend line, our expectation of moderate advancement of S&P 500 index stays the same.  

Fund Rankings Update, 3/8/2019

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 ETF model portfolio: Sell ILF, Buy IGV

Concern about global economy slowdown weighed in on investor sentiment. During the week, European center bank decided to inject new liquidity to spur economic activity, China announced new measures to stimulate its manufacturing sectors, and US economy added only 20,000 jobs in February far below expectation.  For the week, S&P 500 index closed at 2743 down 2.16%, Dow Jones Industrial Average lost 2.21% and technology laden NASDAQ composite index decreased 2.46%.

Weekly chart of S&P 500 index

We have discussed about S&P 500 index falling back to test its 28 week moving average for the past two weeks. As observed from the weekly chart, the index tested the support Friday but closed the week at 2743, above its trend line at 2712. The index will most likely go through a consolidation phase around its support level in the short term to digest the lofty gain from the past two months, and continue is advancement with moderate pace afterwards. 

Fund Rankings Update, 3/1/2019

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 move up slightly with S&P 500 index advanced for the tenth week. Progress in US-China trade negotiation and stronger than expected 4th quarter US GDP growth did not substantially moved the markets upwards. For the week, S&P 500 index closed at 2803 up 0.39%, Dow Jones Industrial Average lost 0.02% and technology laden NASDAQ composite index increased 0.9% 

Weekly chart of S&P 500 index

The strong rally/rebound of S&P 500 index since mid-December 2018 seems to be hitting a resistance at 2800 level as the index digesting its 10 week gain. As the momentum is still in the over bought region and the index is only 3.5% above its 28 week moving average, it is likely that the index will either move side way or come down a bit to consolidate its gain.