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 flat with negative bias as investors turned their attention to corporate earnings and economy growth. Analysts expect that overall earnings for S&P 500 index will decline for the second quarter and a mild recession is likely to come in the second half of this year. For the week, S&P 500 index went down 0.1% to 4133, Dow Jones Industrial Average lost 0.23%, while the technology laden NASDA composite index decreased 0.42%.
Technical picture for S&P 500 index stays the same as the index still stays above its 28 week EMA with high momentum. A break of 4200 next week will ensure the continuation of the uptrend since October last year.
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| Weekly chart of S&P 500 index |
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