Trading signal occurs in SELECT model portfolio: Sell FBSOX, Buy FSELX
Trading signal occurs in FEMKX timing system: Sell Cash, Buy FEMKX
Stocks moved broadly higher as Trump administration and China officials took steps to de-escalate the trade tension. China revealed a list of US products that will be excluded from the new tariffs and White House quickly responded with delay of the 5% tariff increase on 250 billion Chinese goods for two weeks. For the week, S&P 500 index closed at 3007 up 0.96%, Dow Jones Industrial Average gained 1.57% and technology laden NASDAQ composite index increased 0.91%.
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| Weekly chart of S&P 500 index |
S&P 500 index opened the week with a cap up at 2988. It quickly pulled back and reached a intra-day low of 2957 on Tuesday testing the 2940-2950 support level. After successfully testing the support, the index marched higher and closed the week at 3007 within 1% of its record high. The momentum indicator of S&P 500 index has move back up above 80 and trending higher. We expect the index will continue it march upward.
Trading signals occur in our SELECT model portfolio as well as in our FEMKX timing system this week. The upward momentum of FBSOX has been slow down in the past few weeks and the model portfolio will replace FBSOX with the current number one rank fund, FSELX, in SELECT ranking table. For FEMKX timing system, the momentum indicator STO[15,1] has quickly rebounded from the low of 25, and a buy signal was issued as STO[15,1] crossed above 50 according to the trading rule.
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| Weekly chart of FEMKX |
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