Fund Rankings Update, 2/7/2020

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' sentiment was driven by the perception of coronavirus outbreak situation this week. Stocks went up sharply midweek on news that number of reported new coronavirus cases reduced for two consecutive days and good progress on vaccine has been made.  However, stocks pulled back Friday as China announced new infection cases and an outbreak in cruise ship anchored in Japan.  For the week, S&P 500 index climbed 3.17% to 3327, Dow Jones Industrial Average gained 3.0% , and the technology laden NASDAQ composite index increased 4.04%. 

S&P 500 index bounced off  the lower end of the support level at 3225 and recovered the loss of the last two weeks. The large swing was caused by the virus outbreak and we expect stock markets to remain highly volatile before the spreading of virus is under control . 

Weekly chart of S&P 500 index