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 iETF model portfolio: Sell IOO, Buy Cash
Trading signal occurs in RSP model portfolio: Sell FDGRX, Buy FCNTX
Stocks closed the week mixed again as investors weighed on higher-than-expected PPI (producer price index and CPI (consumer price index) released during the week. However, dovish statements from FED officials and decreasing treasury yields due to the outbreak of war in the Middle East. For the week, the S&P 500 index went up 0.45% to 4327, the Dow Jones Industrial Average gained 0.79%, while the technology-laden NASDAQ composite index decreased by 0.18%.
Even with the pullback due to the higher-than-expected inflation data on Thursday and Friday, The S&P 500 index still closed the week above its 28-week exponential moving average. The momentum indicator STO [15,1] of the index is above the oversold threshold of 20 and heading higher. We would like to see the index climb above the 28-week EMA more to provide us more confidence in the uptrend resumption.
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| The Weekly chart of the S&P 500 index |
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