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 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.
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| Weekly chart of S&P 500 index |
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