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 FEMKX timing system, Sell FEMKX, buy Cash
Stocks regained some ground from the sharp losses a week ago. Economic data released during the week were mixed as January manufacturer durable goods order fell 4.5% but the new home sales saw it jump 8.1% in January. Investors sentiment were bolstered by Atlanta Federal Reserve President's remark that Fed could pause the rate hike by mid to late summer. For the week, S&P 500 index went up 1.9% to 4045, Dow Jones Industrial Average gained 1.75%, while the technology laden NASDA composite index increased 2.58%.
S&P 500 index bounced right back above its 28 week EMA indicating a continuation of the rally going forward. We will watch the market closely next week to see if the index can keep its momentum up and continue to stay above its trend line.
The whiplash of the stock price action has caused the momentum indicator of FEMKX to dipped below 50 and closed at 63.41 this week. Even though it bounced back above its trendline, a sell signal was issued according to the trading rule. We will move out of FEMKX and move into Cash for at least one month.
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| Weekly chart of S&P 500 index |
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Weekly chart of FEMKX |
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