Fund Rankings Update, 8/16/2019

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.

Trading signal occurs in ETF model portfolio: Sell IGV, Buy IYR.

An inverted yield curve for a short period of time Wednesday stirred up panic about recession and caused the Dow Jones Industrial Average plunging more than 500 points. However, market recovered a bit by the end of the week with positive July retail sales data from US Commerce Department.   For the week, S&P 500 index closed at 2888 down 1.03%, Dow Jones Industrial Average lost 1.53% and technology laden NASDAQ composite index decreased 0.79%.

Weekly chart of S&P 500 index

S&P 500 index fell below its 28 week moving average intra-week, reaching the low near 2820 and closed above its trend line for the second weeks.  As observed in the weekly chart, S&P 500 index has been trading between 2940 and 2820 for two weeks as we have discussed about the strength of these resistance and support in the blog last week. We think the index will still stay between these two levels for the coming couple of weeks.  As long as the index closes above its trend line, the general uptrend is still intact. 

After trading signal from FEMKX timing system last week, a trading signal occurs in ETF model portfolio to move the position from software sector fund, IGV, to real estate fund, IYR, which has been strong in the past few weeks because of the low interest rate environment. We have held IGV for more than 5 months with a gain of 3.5%.