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 SELECT model portfolio, Sell FSDAX, buy FSELX
Stocks advanced this week shaking off the turmoil in banking sectors as investors relived that the Fed increased the interest rate only 0.25% as expected and hope that it will stop increasing the rate hike after one more increase in May. For the week, S&P 500 index went up 1.39% to 3970, Dow Jones Industrial Average gained 1.18%, while the technology laden NASDA composite index increased 1.66%.
After two consecutive advances, S&P 500 index still closed below its 28 week exponential moving average. The index went above the EMA mid week but failed to sustain the gain and closed a bit below the EMA. However, its momentum indicator has turned up, giving it a chance to climb above the trend line next week. As discussed in the blog last week, we may see the index consolidate around the 28 week EMA before getting back to its slow uptrend trajectory.
Trading signal occurred in SELECT model portfolios this week due to the recent sector rotation. We will sell FSDAX and replace it with the current number 1 rank fund, FSELX.
 |
| Weekly chart of S&P 500 index |
No comments:
Post a Comment