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.
Boosted by positive earning surprise, stocks continued to march higher. Utilities, health care and real estate sectors led the markets while communication and energy sectors lagged. For the week, S&P 500 index went up 1.64% to 4544, Dow Jones Industrial Average gained 1.08%, and the technology laden NASDAQ composite index increased 1.29%.
S&P 500 made the record high during the week but closed the week one point lower. As mentioned in our last blog that we expect the index to reach all time high if it can hold the 4500 level. For the next few weeks, we think the index will resume its up trend with rising momentum.
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| Weekly chart of S&P 500 index |
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