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 FSRBX, Buy FSELX.
Stocks advanced higher again with the S&P 500 index reaching above the psychological target of 5000. This week was relatively quiet in terms of economic news. The January ISM service index released on Monday and the weekly jobless claims releases on Thursday all met the expectations. For the week, the S&P 500 index advanced 1.37% to 5026. The Dow Jones Industrial Average increased 0.04%, and the Nasdaq went up 2.31%.
The S&P 500 index has reached above its 5000 psychological price target. The deviation from its 28-week exponential moving average is at 9.3%. As the index continues to move higher and the deviation from its trend line grows larger, we are taking a cautious outlook going forward. We do not know when the pullback or correction will come but when it comes it will be severe and swift.
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| The weekly chart of the S&P 500 index |
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