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 amid the busiest week of corporate earning reports. Investors were encouraged by better than expected quarterly earnings announced after market close on Wednesday and Thursday from large tech companies such as Google, Facebook, Amazon and Microsoft. On the economy front, the estimated first quarter GDP came in 1.1% well below the expected 2.0% growth, durable goods order excluding aircraft and defense went down 0.4% in March, while retail inventories rose more than expected which further confirm the economy slow down. For the week, S&P 500 index went up 0.87% to 4169, Dow Jones Industrial Average gained 0.86%, and the technology laden NASDAQ composite index increased 1.28%.
S&P 500 index continues to inch higher with increasing momentum. We are looking forward to a break of 4200 next week.
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| Weekly chart of S&P 500 index |
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