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.
Trading signal occurs in SELECT model portfolio: Sell FSELX, Buy FSENX.
Trading signal occurs in sETF model portfolio: Sell ITB, Buy IEZ.
Stocks closed mixed this week as oil prices rose to $90 a barrel for the first time in 10 months. The slight pickup in CPI data released Wednesday and PPI data released Thursday showed that the road to the Fed's target of 2% inflation is still bumpy ahead. After the CPI and PPI data releases, all focuses are now turned to the Fed's decision to hike or steady the interest rate in the policy meeting next Wednesday, 9/20. For the week, the S&P 500 index went down 0.16% to 4450, the Dow Jones Industrial Average gained 0.12%, and the technology-laden NASDAQ composite index decreased by 0.39%.
The S&P 500 index continued to go sideway and closed a bit lower this week within the range between 4607 and 4335. The index still stays above its 28-week exponential moving average with the momentum indicator at around the midpoint. The market is waiting for FED's interest rate decision next Wednesday. The index's reaction after the decision will give us a clue about the market direction for the rest of the year.
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