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 continued to march higher with S&P 500 index and NASDAQ composite index making record high during the week. FDA's approval of Pfizer-BioNTech COVID-19 vaccine helped boosting the sentiment of continued economy recovery. Within the markets, small cap stocks outperformed its large cap counterparts with Technology and energy stocks leading the way. For the week, S&P 500 index went up 1.52% to 4509, Dow Jones Industrial Average gained 0.96%, and the technology laden NASDAQ composite index increased 2.82%.
S&P 500 index reached another record high and closed the week at 4509 above the 4500 psychological resistance. We have predicted the slow grinding upward pattern toward 4500 in the 7/2 blog, and we believe the pattern will continued for a while supported by the economy recovery and positive company earning outlook.
 |
| Weekly chart of S&P 500 index |
No comments:
Post a Comment