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 ended mixed this week with communication and technology leading the charge while energy and banking sectors lagging behind. On the economy front, existing home sales and business activities ticked up while weekly unemployment claims went up unexpectedly. For the week, S&P 500 index went up 0.72% to record high of 3397, Dow Jones Industrial Average lost 0.0% , and the technology laden NASDAQ composite index increased 2.65%.
S&P 500 index reached all time high and stayed 9.2% above its 28 week EMA for another week. As the index is trading abnormally high above its trend line, our assessment of high market risk going forward remains.
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| Weekly chart of S&P 500 index |
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