Fund Rankings Update, 11/15/2019

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.

Stocks continued to march higher for the sixth week as investors still hoping for a "phase one" trade deal between US and China. On Friday, White House Economic Adviser, Larry Kudlow told reporters that negotiations were coming down to "short strokes".  For the week, S&P 500 index closed at 3120 up 0.89%, Dow Jones Industrial Average gained 1.17% and technology laden NASDAQ composite index increased 0.77%.

Weekly chart of S&P 500 index - 11/15/2019

S&P 500 index continued to make record high after breaking above the 3020-3030 resistance level three weeks ago. The index has went up non-stop for six weeks and is currently 5.5% above its 28 week moving average. It is likely that the index will take a brake either moving side way or have a short term pull back in the next couple weeks to digest its recent gain.