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 took a breather after 5 weeks of advance. Investor sentiment was weighed on by high inflation data released during the week but supported by the passage of the bipartisan infrastructure bill. For the week, S&P 500 index went down 0.31% to 4682, Dow Jones Industrial Average lost 0.63%, and the technology laden NASDAQ composite index decreased 0.69%.
S&P 500 index continued its upward trajectory along the upper trading channel as shown in the weekly chart below. We maintain our positive outlook that the index will continue heading higher for the coming weeks.
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| Weekly chart of S&P 500 index |
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