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 fifth week as Fed raised the interest rate 0.5% on Wednesday to fight the heighten inflation. For the week, S&P 500 index went down 0.21% to 4123, Dow Jones Industrial Average lost 0.24%, and the technology laden NASDAQ composite index decreased 1.54%.
As S&P 500 index could not hold the 4200 support, the index looks to continue heading downward to the next support level at 4000. We are entering the month of May which is a seasonally weak month of the year with the adage: "Sell in May and go away." With the current market condition, it may be more true this year than the last.
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| Weekly chart of S&P 500 index |
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