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 its rebound as investors digesting the progress or war situation in Ukraine. Information technology, material and energy sectors outperformed the market while healthcare lagged behind. For the week, S&P 500 index went up 1.79% to 4543, Dow Jones Industrial Average gained 0.31%, and the technology laden NASDAQ composite index increased 1.98%.
S&P 500 index closed the weekly solidly above its 28 week EMA overcoming the first hurdle to resume its up trend. As discussed in the blog last week, the next step is for the index to break above the 4600 resistance and the 4800 all time high psychology barrier afterwards. With the pickup in the momentum indicator STO[15,1], the scenario may well plays out in the next few weeks.
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| Weekly Chart of S&P 500 Index |
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