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.
Stocks advanced broadly higher boosted by the economic data that US has added more than 900K jobs in March, well above the expected 650K jobs. Big techs also came back in a big way with Apple, Microsoft, Google and Amazon all outperformed the market with more than 5% weekly gain. For the week, S&P 500 index went up 2.71% to 4128, Dow Jones Industrial Average gained 1.95%, and the technology laden NASDAQ composite index increased 3.12%.
S&P 500 index continued to advance to all time high after breaking the 4000 psychological barrier. As technology laden Nasdaq composite index is reversing its downtrend and heading higher, the S&P 500 index will be boosted and resume its uptrend. We expect the market will head higher but need to watch out for the parabolical rise.
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| Weekly chart of S&P 500 index |
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