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 the week broadly higher with growth stocks outperformed value stock. For the week, S&P 500 index went up 1.16% to 4204, Dow Jones Industrial Average gained 0.94%, and the technology laden NASDAQ composite index increased 2.06%.
S&P 500 index continued its side way consolidation while NASDAQ composite index continue its rebound after successfully tested the 28 week EMA as shown in the weekly charts below. Our technical outlook remains cautiously optimistic. As long as NASDAQ composite index does not fall below its 28 week EMA, we will see it slowly come back to resume its uptrend and carry S&P 500 index along with it.
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Weekly Chart of S&P 500 index |
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| Weekly chart of NASDAQ composite index |
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