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.