Fund Rankings Update, 4/26/2019

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.

Better than expected earnings from tech companies push and stronger than expected first quarter GDP push the stocks higher.  S&P 500 index closed at 2939 up 1.2%, Dow Jones Industrial Average lost 0.06% and technology laden NASDAQ composite index increased 1.85% for the week, .

Weekly chart of S&P 500 index

After a short and indecisive trading week a week before, S&P 500 continued to advanced higher and making record high. As discussed in the previous post, we will closely watch how far the index is above its 28 week moving average from now on. S&P 500 index is currently 5.8% above its 28 week moving average. The index will always come back to its trend line, and the further it pulled away from the trend line, the fast and sever it will fall back down. The index may still thrust higher carried by its momentum but caution is warranted.