YCP ETF and Mutual Fund Rankings: February 2023

Fund Rankings Update, 2/24/2023

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.

Stocks closed sharply lower this week as investors were spooked by the higher than expected core personal consumption expenditures (PCE) price index which jumped 0.6% in January. The resurgent of inflation led investors to raise the timing and extent of the coming rate hikes from Federal Reserve. For the week, S&P 500 index went down 2.67% to 3970, Dow Jones Industrial Average lost 2.99%, while the technology laden NASDA composite index decreased 3.33%.

S&P 500 index closed a bit below its 28 week EMA with diminished momentum. If the index can not quickly bounce back above the support next week, we may see it retreated to retest its low of 3600.

Weekly chart of S&P 500 index

Fund Rankings Update, 2/17/2023

Stocks closed mixed this week as investors were surprised by the big jump in January produce price index, which offset the positive sentiment from strong retail sales and company earnings. Investors worried that the 0.7% jump in January produce price index may force the Fed to pickup the pace of interest rate hikes again. For the week, S&P 500 index went down 0.28% to 4079, Dow Jones Industrial Average lost 0.13%, while the technology laden NASDAQ composite index increased 0.59%.

S&P 500 index continues to consolidate in a tight range above its 28 week EMA. Again, as long as the index stays above its 28 week EMA, we expect the uptrend to continue.

Weekly chart of S&P 500 index

Fund Rankings Update, 2/10/2023

Stocks took a breather as major indices closed down. Energy sectors outperformed the general market while communication sectors lagged behind. For the week, S&P 500 index went down 1.11% to 4090, Dow Jones Industrial Average lost 0.17%, and the technology laden NASDAQ composite index decreased 2.41%.

S&P 500 index consolidated to digest the recent quick gains as we have discussed in last week's blog. The index is still above its 28 week exponential moving average (EMA) with high momentum. As long as the index stays above its 28 week EMA, we expect the uptrend to continue.

Weekly chart of S&P 500 index

Fund Rakings Update, 2/3/2023

Stocks rallied for another week but major indices closed mixed. S&P 500 index and Nasdaq composite index closed with solid gains while narrowed Dow Jones Industrial Average index lagged the rest and showed a 0.15% loss. Investors were encouraged by Fed's 0.25% interest rate hike and its acknowledgment of slowdown in inflation. Better-than-expected earnings from Facebook, GM, UPS also boosted investors' sentiment. For the week, S&P 500 index went up 1.62% to 4136, Dow Jones Industrial Average lost 0.15%, and the technology laden NASDAQ composite index increased 3.31%.

S&P 500 index climbed higher reaching 4195 on Thursday, quickly retreated and ended up above its previous-high resistance (now the support) of 4100. The index has formed a higher high and higher low patter on the weekly chart indicating an onset of a bull trend. We expect that the index will go higher with the next resistance at 4325. However, with the index rising so fast, we may see some consolidation before it goes higher

Weekly chart of S&P 500 index