YCP ETF and Mutual Fund Rankings: April 2022

Fund Rankings Update, 4/29/2022

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 declined for the fourth week with Dow Jones Industrial Average plunged more than 900 points again on Friday as Amazon.com's disappointing quarterly earning spooked investors. Major indices are squarely in the correction territory: S&P 500 index is sitting at 14% below its high and NASDAQ composite has fallen 24% from its high in November 2021. For the week, S&P 500 index went down 3.27% to 4131, Dow Jones Industrial Average lost 2.47%, and the technology laden NASDAQ composite index decreased 3.93%.

After failing to closed above its trend line last week, S&P 500 index declined further and closed below its 4200 support this week. As discussed in the blog last week, the index is likely to decline further even to 3600, if it can not find a footing to get back above 4200 next week.

Weekly chart of S&P 500 index

Fund Ranakings Update, 4/22/2022

Trading signal occurs in RSP model portfolio: Sell 05087, Buy 42635

Stocks closed lower for the third week as Dow Jones Industrial Average plunged more than 900 points on Friday. Elevated inflation and increasing likelihood that the Fed will hike interest rate half point in its May policy meeting dominated investors sentiment. For the week, S&P 500 index went down 2.75% to 4271, Dow Jones Industrial Average lost 1.86%, and the technology laden NASDAQ composite index decreased 3.83%.

S&P 500 index made an attempt to get back above its 28 week EMA during the week but ended up closing below the trend line. Its weekly momentum indicator fell below 50 this week and heading downward. The index looks to be moving down to test the 4200 support level again. If the index can not hold its 4200 support, the next meaningful support levels are 4000 and 3600. We will see how it plays out next week.

Weekly chart of S&P 500 index

Fund Rankings Update, 4/15/2022

Stocks closed lower over the holiday-shorten week as corporates started reporting their first quarterly earnings. For the week, S&P 500 index went down 2.13% to 4392, Dow Jones Industrial Average lost 0.78%, and the technology laden NASDAQ composite index decreased 2.63%.

S&P 500 index fell below its 28 week EMA and its momentum indicator declined from its last week high but still closed above 50. Trading volumes were below average through out the week. We will see if the index can get back above it trend line next week.

Weekly chart of S&P 500 index

Fund Rankings Update, 4/8/2022

Stocks closed lower with Ukraine war and rate hikes largely weighed on investor sentiment. Consumer stable and healthcare recorded solid gain while technology suffered the most. US Economy seems to hold up well under the current high inflation environment as the weekly jobless claims fell to the lowest since 1968 and the ISM service index, released last week, still indicated robust economy expansion. For the week, S&P 500 index went down 1.27% to 4488, Dow Jones Industrial Average lost 0.28%, and the technology laden NASDAQ composite index decreased 3.86%.

S&P 500 index still struggled to break the 4600 level resistance but closed the week above its 28 week moving average. It is a good sign that the index stays and consolidates above its trendline, and hopefully we will see it breaks the 4600 level soon in the coming weeks. Our cautiously positive outlook for the index to resume its uptrend remains the same as the index picks up its momentum and stays above its trendline.

Weekly chart of S&P 500 index

Fund Rankings Update, 4/1/2022

Stocks were flat after 2 weeks of rebound with major indices ended the week mixed. Investor sentiment was largely affected by the evolving situation in the Russian-Ukraine war. On the economic front, the March nonfarm payroll report showed that US created 431K jobs below the expectation of 490K but the jobless rate fell a bit more than expected to 3.6%. For the week, S&P 500 index went up 0.06% to 4545, Dow Jones Industrial Average lost 0.12%, and the technology laden NASDAQ composite index increased 0.65%.

S&P 500 index broke the 4600 level intra week but closed below this second step resistance to resume its up-trend. As the momentum indicator STO[15,1] is trending upward and the index is above its 28 week EMA, there is a high likelihood that the index will continue to march upward to break its record high.

Weekly chart of S&P 500 index