Fund Rankings Update, 6/19/2020

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.

Trading signal occurs in SELECT model portfolio: Sell FSPHX, Buy FSRPX.

Stocks rebounded from sharp decline in previous week with retail sale jumped 18% in May and Fed's announcement to keep the credit market afloat by buying corporate bonds.  Energy stocks led the markets followed by healthcare and material sectors.  For the week, S&P 500 index went up 1.86% to 3097, Dow Jones Industrial Average gained 1.04% , and the technology laden NASDAQ composite index increased 3.73%. 

S&P 500 index touched its 28 week EMA early in the week and closed solidly above the trend line after rebounding mid week. As we have discussed previously, as long as the index stay above its trend line the uptrend remains. The 28 week EMA becomes a support level and it creates a buying opportunity every time the index gets near the trend line. 

Weekly chart of S&P 500 index