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 ended lower this week as long term interest rate climbing higher. Worries about increasing spread of Delta variant of the coronavirus that hinders the economy recovery and the persistent high inflation rate that would force the Fed to tighten its monetary policy early also weighed in on investor sentiment. For the week, S&P 500 index went down 1.69% to 4458, Dow Jones Industrial Average lost 2.15%, and the technology laden NASDAQ composite index decreased 1.61%.
S&P 500 index has slowly moved upward following its trajectory since last November as shown in the weekly chart below. The index is still above its 28 week EMA with high momentum. We expect it will continue to march higher with small consolidations along the way.
Two trading signals were issued this week. A buy signal from our FEMKX timing model was issued on this down week. The FEMKX timing model has been consistent in telling the market direction in the past and we shall see how it performs this time. Another trading signal was issued in SSPP model portfolio this week to sell real estate fund, FRESX, and buy the growth related FDEGX fund due to rising longer interest rate. Readers can find the detail trading records in the trading log pages.
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| Weekly chart of S&P 500 index |
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