Fund Rankings Update, 1/10/2020

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.

Investors flocked to big name tech company stocks and pushed the major indices higher as middle east conflict stabilized. Nasdaq composite outperformed the S&P 500 index while small cap stock index, Russell 2000, recorded small loss.  For the week, S&P 500 index closed at 3265 up 0.94%, Dow Jones Industrial Average gained 0.66% while technology laden NASDAQ composite index increased 1.75%. 

After an indecision week, S&P 500 index made up the its mind and decide to heading higher. From the past examples, the index will continue marching higher for another few weeks.  However, S&P 500 index is 6.6% above its 28 week moving average, and caution is warranted as the inevitable pull back will be fast and intensive.

Weekly chart of S&P 500 index