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 higher this week encouraged by the inflation data released Wednesday showing March consumer price index rose only 0.1%, below estimation. With the moderation of inflation, investors now expect Fed will stop hiking interest rate after the final raise by 0.25% in May. Investor sentiments were also boosted by positive quarterly earnings from JPMorgan Chase, Wells Fargo, and Citigroup. For the week, S&P 500 index went up 0.79% to 4137, Dow Jones Industrial Average gained 1.2%, while the technology laden NASDA composite index increased 0.29%.
S&P 500 closed above its 28 week EMA for the third week and gaining momentum. Our positive outlook for the next few weeks remains the same.
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| Weekly chart of S&P 500 |
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