Fund Rankings Update, 1/3/2020

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 started strong but ended up mostly flat over this holiday-shorten trading week. Investors were encouraged of the phase one trade agreement between US and China at the beginning of the week but worries of war escalated on Friday after U.S. airstrike on Iranian military leader.  For the week, S&P 500 index closed at 3234 down 0.16%, Dow Jones Industrial Average lost 0.04% while technology laden NASDAQ composite index increased 0.16%. 

S&P 500 index exhibits an indecision candle stick pattern with a small body and long wicks on both end this week in the weekly chart . The price action of S&P 500 index next week should tell us where the index is heading. However, the probability of a pull back outweighs the uptrend as this rally has been 13 weeks long and the index is 6.1% above its weekly trend line.

Weekly chart of S&P 500 index