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.
Happy Thanksgiving! Stocks advanced higher in this holiday shorten week as Fed minutes from November meeting indicating that the FED is willing to slow down the pace of rate hikes. For the week, S&P 500 index went up 1.53% to 4026, Dow Jones Industrial Average gained 1.78%, and the technology laden NASDAQ composite index increased 0.72%.
S&P 500 index broke above the 4000 psychological barrier and closed above its 28 week EMA for the thirdd week. Its momentum indicator is above the mid point and climbing higher. As we have discussed last week, the index has a good chance to continue trending higher if it manages to stay above its 28 week EMA.
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| Weekly chart of S&P 500 index |
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