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 FEMKX timing system: Sell Cash, Buy FEMKX.
Stocks advanced strongly this week as the released consumer price index showed signs of receding inflation and rekindled investors' hope for ease of rate hikes from the FED. Growth stocks especially rate sensitive tech stocks outperformed general markets in a big margin. For the week, S&P 500 index went up 5.9% to 3992, Dow Jones Industrial Average gained 4.154%, and the technology laden NASDAQ composite index increased 8.1%.
With the strong rally, S&P 500 index has completed the first step of the trend reversal by closing above its 28 week EMA and push its momentum indicator, STO[15,1] above the mid-point of 50. We should see the index continue to go up and come back to test its 28 week EMA (now becomes the support) in the next few weeks. A failed test, like the ones in March and mid August, will take the index further down to 3200, while a successful test will signal the beginning of the uptrend just like the one in June 2020.
The fund compositions in HSA ranking family has undergone a drastic change. Five funds have been replaced with new ones and fifteen funds were soft closed which means the current fund owners can still keep the fund but can no longer invest in it further. For example, FKAIX is being replaced with LMOIX, while CLSPX has been soft closed. Owner of the CLSPX can still hold the fund but can not invest it further in the future. I will update the HSA ranking table with the new fund lineup next week.
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| Weekly chart of S&P 500 index |
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