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 SELECT model portfolio: Sell FDRXX, Buy FBIOX
Trading signal occurs in ETF model portfolio: Sell FXI, Buy IBB
Trading signal occurs in sETF model portfolio: Sell IHE, Buy IBB
Stocks marched higher as July inflation data came in lower than expected. Headline inflation went up 8.5 % lower than the 8.7% expected, and core inflation rate was flat in July also below estimation. While investors cheered slower inflation, Fed still stressed the need to tame the inflation and keep the rate high. For the week, S&P 500 index went up 3.26% to 4280, Dow Jones Industrial Average gained 2.92%, and the technology laden NASDAQ composite index increased 3.08%.
S&P 500 broke above its 4200 resistance and closed well above its trend line. As discussed in the blog last week, the index may consolidate or retest the trend line support in the next few weeks and continue to advance higher with rising momentum.
With the strong rally in the last few weeks, SELECT, ETF, and sETF model portfolios have issued trading signals this week to move from sideline positions to Bio tech related sector funds. The STO[15,1] momentum indicator of FEMKX is at 49, one short of triggering a buy signal. The FEMKX timing model has been a every robust indicator for market direction. We will see if a buy signal will be issued from FEMKX timing system next week.
 |
| Weekly chart of S&P 500 index |
No comments:
Post a Comment