YCP ETF and Mutual Fund Rankings: January 2023

Fund Rankings Update, 1/27/2023

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.

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Stocks marched higher as tamed inflation data and positive annual GDP gave hope for soft landing to investors. The core personal consumption expenditures (PCE) price index rose 4.4% year over year which is at the slowest pace in over a year and the US Commerce Department released the GDP data that showed U.S. economy grew at an annualized rate of 2.9% than the 2.6% expected. For the week, S&P 500 index went up 2.47% to 4070, Dow Jones Industrial Average gained 1.81%, and the technology laden NASDAQ composite index increased 4.32%.

S&P 500 index broke the 4000 psychological resistance while retreated at the 4100 previous high resistance. The technical picture of S&P 500 index remains the same: As the index is gaining momentum shown in the weekly chart below, it is likely that the index will climb higher above its previous high resistance of 4100 in the next few weeks.

Weekly chart of S&P 500 index

Fund Rankings Update, 1/20/2023

Stocks ended the week mixed as positive investor sentiment from lower inflation data weighed on by worries of looming recession likelihood due to overtightening from the FED. For the week, S&P 500 index went down 0.66% to 3972, Dow Jones Industrial Average lost 2.7%, and the technology laden NASDAQ composite index increased 0.55%.

S&P 500 index retreated this week but still stay above its 28 week EMA. As the index is gaining momentum shown in the weekly chart below, it is likely that the index will climb higher above its previous high resistance of 4100 in the next few weeks.

Weekly chart of S&P 500 index

Fund Rankings Updates, 1/13/2023

Stocks advanced sharply as inflation data released Thursday showed headline price fell 0.1% in December and brought the year over year core consumer inflation to 5.7% the lowest pace in over a year. For the week, S&P 500 index went up 2.67% to 3999, Dow Jones Industrial Average gained 2.00%, and the technology laden NASDAQ composite index decreased 4.82%.

After testing 3800 support level three times, S&P 500 index advanced higher and broke above its 28 week EMA resistance as observed in the weekly chart below. In order for the bull run to continue, the index has to stay above its 28 week EMA (now the support) and advance higher above its previous high resistance of 4100 to make a higher high, higher low bullish pattern in the next few weeks.

Weekly chart of S&P 500 index

Fund Rankings Update, 1/6/2023

Stocks went up the first week of the new year. S&P 500 index went up 1.45% to 3895, Dow Jones Industrial Average gained 1.16%, while the technology laden NASDAQ composite index increased 0.98%.

Weekly chart of S&P 500 index