Fund Rankings Update, 8/23/2019

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 HSA model portfolio: Sell FKAIX, Buy NBRIX.
Trading signal occurs in sETF model portfolio: Sell IAK, Buy IHI.

Stocks rose early in the week encouraged by strong retail sales and dovish Fed policy. However, Major indices experienced sharp sell-off Friday after China announced new tariff on US goods and President Trump "ordered" US companies to immediately seek alternatives to China in his retaliation tweets.  For the week, S&P 500 index closed at 2847 down 1.44%, Dow Jones Industrial Average lost 0.99% and technology laden NASDAQ composite index decreased 1.83%.

Weekly chart of S&P 500 index

S&P 500 index reached 2939 intra-day Thursday and then experienced impulsive selling afterwards plunging to the low of 2847.  In the weekly chart, the index has fallen below its 28 week moving average after 3 weeks of struggle. The momentum indicator is heading downward. We have discussed about the trading range between 2940 and 2820. It is critical to see if S&P 500 index can bounce off from the lower support next week. If the index fails to stay within the trading range, we may see the next wave of selling pushing the index down to 2600 level. 

Two weeks ago, our FEMKX timing system gave out a sell signal and market has been down since. This week, we have two more tradings signals occurs in our HSA and sETF model portfolios to move from growth oriented funds to more defensive funds under the current trading environment.