Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, and sETF have been posted on "Rankings", and "Trading Logs" pages, as well as in http://ycprankings.awardspace.us/RankingTables.htm.
Stocks advanced broadly higher as the consumer price index released Wednesday rose 0.2% in June below the expectation. The softer inflation data gave investor hope that the Fed will slow down its rate hike or pause the rate hike after July. Investment sentiment was boosted also by the University of Michigan's consumer sentiment index released Friday, which went up above expectation to 72.6 reaching the highest level in 2 years. For the week, S&P 500 index went up 2.42% to 4505, Dow Jones Industrial Average gained 2.29%, and the technology-laden NASDAQ composite index increased 3.32%.
S&P 500 broke above the 4300-4450 trading range this week and closed comfortably at 4505. Slowly and steadily the index is heading towards the previous high of 4800 level.
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| The Weekly chart of the S&P 500 index |
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