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 SSPP model portfolio: Sell FDRXX, Buy FEQIX.
Trading signal occurs in HSA model portfolio: Sell Cash, Buy CSVYX.
Trading signal occurs in iETF model portfolio: Sell Cash, Buy EWW.
Stocks declined slightly after strong gains the week before. October core produce price index released on Wednesday provided another evidence that the inflation is slowing down, while the jobless claims for the previous week remained steady in the same range as in September. On the company earning front, Target announced disappointed earning and weak sales outlook causing sharp plunge in its stock price while Walmart, Footlocker reported better-than-expected results and positive forecasts for the upcoming holiday season. For the week, S&P 500 index went down 0.69% to 3965, Dow Jones Industrial Average lost 0.01%, and the technology laden NASDAQ composite index decreased 1.57%.
After strong advance the week before, S&P 500 index forms an indecision candle stick pattern with a short body in the middle of the trading range. Even though the index closed the week on the down note, it still manages to closed above its 28 week EMA. The price action of the index in the next couple of weeks will be critical to see if it can hold above its support and continue to march higher.
With strength of the recent rally, three trading signals were issued to move out of their cash positions: SSPP model portfolio to FEQIX, HSA model portfolio to CSVYX, and iETF model portfolio to EWW. After going over the funds in the new HSA line up, I decided to discard the old ranking table and start the HSA rankings from ground up as most of the funds are newly added to the family. Because of the new AMI calculation, the HSA ranking data may take a few weeks to stabilize.
 |
| Weekly chart of S&P 500 index |
No comments:
Post a Comment