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.
Trading signal occurs in sETF model portfolio: Sell IAT, Buy IEO
Tech stocks were pushed higher helped by the declining treasury bond yield through out the week as Fed indicated that they will continue the dovish monetary police for some time and the recent spike in inflation is temporary. With the help from tech stocks, S&P 500 index reached all time high of 4249 on Thursday. For the week, S&P 500 index went up 0.41% to 4247, Dow Jones Industrial Average lost 0.8%, and the technology laden NASDAQ composite index increased 1.85%.
S&P 500 index moved side way with positive bias and reach the record high this past week as NASDAQ composite index broke above the 14000 psychological barrier. If Nasdaq composite index can solidify its footing above 14000 next week, we can see the uptrend that was paused since early April to resume. An trading signal in sETF model portfolio was issued to sell IAT and buy the current number 1 AMI ranked IEO this week as the increasing energy prices pushed the related sectors higher.
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| Weekly chart of S&P 500 index |
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