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 ETF model portfolio: Sell FXI, Buy IYW
Stock markets remained mostly unchanged this week as investors adjusted their portfolios at the end of the first half of the year. On the economic data front, the Bureau of Economic Analysis released the core personal consumption expenditures (PCE) price index on Friday, which showed that prices excluding food and energy rose 0.1% month over month in May. Core PCE is the Fed’s preferred measure of inflation. This positive data increased investor confidence that the Federal Reserve will cut interest rates in September. For the week, the S&P 500 lost 0.08% to close at 5460, the Dow Jones Industrial Average decreased 0.08%, while the Nasdaq composite index went up 0.24%.
The S&P 500 index briefly surpassed our target of 5500 on Friday but fell back before closing. Despite this, our forecast for the index remains unchanged from last week. We believe a period of sideways movement or a minor pullback could actually solidify the foundation for the rally to continue in the latter half of the year
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| The weekly chart of the S&P 500 index |
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