Fund Rankings Update, 1/17/2020

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.

Stocks advanced higher encouraged by the signing of phase 1 trade agreement between US and China on Wednesday. Some positive economic data in new home start, factory activity and jobless claims also push the stocks higher.  For the week, S&P 500 index closed at 3329 up 1.97%, Dow Jones Industrial Average gained 1.82% while technology laden NASDAQ composite index increased 2.29%. 

Defying the gravity, S&P 500 continued to advance higher and is currently 8.0% above its 28 week moving average. As the deviation is more than the historical norm, we should be cautious and react quickly to market pullback.

Weekly chart of S&P 500 index