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| Weekly chart of S&P 500 index |
Weekly stock market commentary and momentum rankings of ETFs and mutual funds.
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%.
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.
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