YCP ETF and Mutual Fund Rankings: May 2023

Fund Rankings Update, 5/26/2023

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 HSA model portfolio, Sell RIGGX, Buy PCRIX

Trading signal occurs in ETF model portfolio, Sell IEV, Buy IYW

Trading signal occurs in iETF model portfolio, Sell EWI, Buy EWW

Major indices closed mixed as US debt ceiling negotiation between Biden administration and Republican congress leaders has not produced an agreement with June 5 deadline approaching fast. Technology sectors again outperformed the general markets with NVIDIA shares jump 24% due to surging AI chip demands . Investors focused more on Debt ceiling negotiation than potential interest rate hikes this week. The personal consumption expenditures (PCE) price index, Fed's preferred inflation gauge, went up a bit above expectation in April with year over year stood at 4.7%, which makes Fed more likely to raise interest rate again in June. However, the news failed to make a dent in traders positive sentiments. For the week, S&P 500 index went up 0.32% to 4205, Dow Jones Industrial Average lost 1.0%, and the technology laden NASDAQ composite index increased 2.51%.

S&P 500 index finally closed above 4200 resistance level after a few weeks of preparation. We will see if the index can stay above 4200 for another week to keep this rally going. As investment sentiment has turned more positive and investors are willing to take on more risk, growth stocks have come back in style. Three trading signals were issued in our model portfolios this week to replace their current holdings with the current number one funds in their respective ranking tables.

Weekly chart of S&P 500 index

Fund Rankings Update, 5/19/2023

Trading signal occurs in SSPP model portfolio, Sell FIEUX, Buy FDGRX

Major indices advanced higher with solid gains as progress was made in US debt negotiation between Biden administration and Republican congress leaders but the positive sentiment was dampen a bit by a pause on Friday. Technology sectors outperformed the general markets while defensive health care, and utility sectors lagged. For the week, S&P 500 index went up 0.29% to 4191, Dow Jones Industrial Average gained 0.38%, and the technology laden NASDAQ composite index increased 3.04%.

S&P 500 index broke 4200 resistance intra week and closed a bit lower at 4191. This up trend since the low of last October has been led by Technology sectors as they rebounded from the severe loss due to interest hikes. Among the major index, Dow Jones Industrial Average has only gone up 0.8% since the start of the year, while S&P 500 index and NASDAQ composite indices have gone up 9.2% and 20.9% respectively. For the uptrend to continue, we would need the index to close above 4200, and hopefully we can see that next week.

Weekly chart of S&P 500 index

Fund Rankings Update, 5/12/2023

Trading signal occurs in FEMKX timing system, Sell FEMKX, Buy Cash

Major indices closed mixed for the week as quarterly earning report season come to an end. Technology stocks outperformed the general markets while financial sector underperformed. Weaker than expected April consumer price which rose 4.9% failed to boot investor sentiment as concern about health of reginal banks and US debt ceiling negotiation between Biden administration and congressional leaders prevailed. For the week, S&P 500 index went down 0.29% to 4124, Dow Jones Industrial Average lost 1.11%, whiled the technology laden NASDAQ composite index increased 0.4%.

S&P 500 index formed a directionless doji pattern as it closed a bit below where it stated at the beginning of the week. The index is still consolidating above its 28 week EMA with strong momentum. May and June are seasonally weak months for stocks and this year is no exception. We just have to be patient and wait for some cartelists to provide conviction to the market.

Weekly chart of S&P 500 index

Fund Rankings Update, 5/5/2023

Stocks closed lower with renewed worries about regional banks and after raising interest by 0.25% on Wednesday, Fed chair Jerome Powell commented that cutting rates might not occurs as early as market had hoped for. Uneasiness about US reaching its debt ceiling on June 1 also weighted on investor sentiment. For the week, S&P 500 index went down 0.8% to 4136, Dow Jones Industrial Average lost 1.24%, whiled the technology laden NASDAQ composite index increased 0.07%.

S&P 500 index formed another bullish pinbar candle stick pattern this week as shown in the weekly chart below. In the pin bar formation this week and last week, the wicks of the candles have successfully tested the 28 week EMA, and the short candle bodies above the trendline indicating that investors were willing to push the price higher. We are still looking forward to a break of 4200 for the index next week.

Weekly chart of S&P 500 index