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 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.
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| Weekly chart of S&P 500 index |
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