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.
Major indices eked out another positive week with S&P 500 index moved closer to the 3393 all-time high set in February. Value stocks outperformed growth stocks while utility sectors lagging the markets. For the week, S&P 500 index went up 0.64% to 3372, Dow Jones Industrial Average gained 1.81% , while the technology laden NASDAQ composite index increased 0.08%.
S&P 500 index is currently 9.2% above its 28 week exponential moving average far exceeding the 5% - 6% normal trading range. As observed in the weekly chart, the index suffered a severe plunge after breaking this comfort zone last time in February. With the extreme strong momentum, the index may keep continue to move higher but the higher it goes, the harder it will fall. It is prudent to start reducing market exposure at this juncture.
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| Weekly chart of S&P 500 Index |
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