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.
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.
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| Weekly chart of S&P 500 index |
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