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 IGV, Buy IEO
Trading signal occurs in FEMKX timing system: Sell FEMKX, Buy Cash
Fear of new variant of new corona virus triggered a sell-off Friday with Dow Jones Industrial Average plunged more than 900 points. For this holiday shorten week, S&P 500 index went down 2.2% to 4594, Dow Jones Industrial Average lost 1.97%, and the technology laden NASDAQ composite index decreased 3.52%.
Technical picture of S&P 500 index remains the same as the index is still consolidating along the upper end of the rising channer and the index is still above its trend line. However, our FEMKX timing system issues a sell signal this week changing its holding to defensive cash position. In addition, a divergent pattern between the price and momentum indicator emerged in the weekly chart of S&P 500 index (price is making higher high while STO [15,1] is making lower high). With these new signs, it is prudent to reduce the risk exposure.
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| Weekly chart of S&P 500 index |
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