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.
News about new variant of Codv-19 virus identified in England pushed down investors sentiment while the passage of stimulus bill pulled up the stock markets. Stocks ends up almost flat with big Tech and small cap leading the way in this holiday shorted trading week. For the week, S&P 500 index went down 0.17% to 3703, Dow Jones Industrial Average gained 0.07% , and the technology laden NASDAQ composite index increased 0.38%.
S&P 500 hovered around 3700 for the fourth week and stays 8.2% above its 28 week EMA. Its momentum indicator is in the extreme overbought region and showing sign of slow down. It is possible that the index will push a bit higher before the correction to the trend line.
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| Weekly chart of S&P 500 index |
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