Fund Rankings Update, 7/5/2019

Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted in "Rankings", "Trading Logs" pages, as well as in  http://ycprankings.awardspace.us/RankingTables.htm.

Markets closed early Wednesday and the whole Thursday in observation of Independence Day.  All the major indices still managed to march higher in spite of the light trading volumes. For the week, S&P 500 index closed at 2990 up 1.65%, Dow Jones Industrial Average gained 1.21% and technology laden NASDAQ composite index increased 1.94% for the week.

Weekly chart of S&P 500 index

S&P 500 index closed solidly above its previous high and stands at 2990. However, the index is again more than 5% above its 28 week exponential moving average. Caution is needed in the next few weeks.