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 iETF model portfolio: Sell EWL, Buy EWT
Stocks closed modestly higher as companies started to report quarterly earnings. Positive earning surprise from JPMorgan Chase and Goldman Sachs boosted the markets on Tuesday while revenue miss from IBM weigh down on the market. For the week, S&P 500 index closed at 2986 up 0.54%, Dow Jones Industrial Average lost 0.17% and technology laden NASDAQ composite index increased 0.4%.
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| Weekly chart of S&P 500 index |
Short term technical picture of S&P 500 index stays about the same as last week but with momentum indicator turning a little bit upward. As the index is still above 28 week moving average, we may see a rally towards year end if the momentum indicator continue to rise.
A trading signal occurs in iETF model portfolio this week to change position from Switzerland country fund (EWL) to Taiwan fund (EWT) due to momentum change.
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