The Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, and sETF have been posted on the "Rankings", and "Trading Logs" pages.
Trading signal occurs in the HSA model portfolio: Sell CSMUX, Buy PCRIX.
Trading signal occurs in the sETF model portfolio: Sell IAI, Buy IXG
Stocks closed lower for the fourth week as tariff concern and fears of recession continue to weigh on investor sentiment. The focus of the economic data this week was the CPI and PPI data released on Wednesday and Thursday. Both indices showed the cooling of inflation in February but failed to sway the wait-and-see attitude toward the rate policy from the Fed. For the week, the S&P 500 declined by 2.27%, closing at 5638. The Dow Jones Industrial Average lost another 3.07%, and the Nasdaq Composite fell 2.43%.
After confirming the correction phase last week, the S&P 500 index closed this week at 5638, solidly below its 28-week exponential moving average of 5834. The index has reached the first support region that we discussed last week. With the deteriorating momentum, the index probably will not hold this level for long and is very likely to go down to the second support at 5200, which is a stronger support in our opinion.
 |
| The weekly chart of the S&P 500 index |
No comments:
Post a Comment