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 closed mixed with Dow Jones Industrial Average advanced for the past ten days while NASDAQ composite index yielded a modest pullback. Economic data released during the week showed the cooling economy and strong labor market. Investors widely expect a 0.25% rate hike in the Fed policy meeting next week and pause for the rest of the year. For the week, S&P 500 index went up 0.69% to 4536 Dow Jones Industrial Average gained 2.08%, while the technology-laden NASDAQ composite index decreased 0.57%.
S&P 500 continued to march higher and currently stands at 4536, 7.7% above its 28-week exponential moving average. The uptrend for S&P 500 index is still intact and we expect it to reach an all-time high. However, as the index is outside the normal deviation from its 28-week EMA, we will see some digestions along the way.
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| The weekly chart of the S&P 500 index |
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