Fund Rankings Update, 6/20/2025

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.

The S&P 500 closed almost flat this week as tension escalating in the Middle East.  All eyes were on the interest rate decision from the Fed policy meeting on Wednesday. The Fed leaves the the federal funds rate unchanged at 4.25% to 4.5% while expects to make two interest rate cuts through the remainder of the year. Fed Governor Christopher Waller made comments suggesting the central bank could cut rates in July in an interview Friday morning, which boosted investor sentiment early in the day.  For the week, the S&P 500 fell 0.15% to 5967, the Dow Jones gained 0.02%, and the Nasdaq Composite increased 0.21%.

The S&P 500 declined a bit closing the week below its 10-day EMA but holding above its 20-day EMA. The failure to reclaim the psychological 6000 level and testing its 20-day EMA suggest a short-term pause or minor pullback from its recent ascent while the index remains in a broader uptrend, holding above its 28-week EMA.  As discussed in the last blog, should the 20-day EMA (currently at 5948) fail to hold as support, the index could fall to its 28-week EMA at 5773. Conversely, if the index manages to stay above 5948, we could anticipate it to break its previous high of 6147.  The coming weeks will be crucial in determining whether the broader uptrend reasserts itself.

 

The weekly chart of the S&P 500 index

Fund Rankings Update, 6/13/2025

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.

Stocks closed modestly lower, as the news that Israel conducted a preemptive air attack on Iran’s nuclear facilities and military leaders sank the investors' sentiment and turned the positive markets negative on the last trading day of the week.   All eyes were on the inflation data last week. The Bureau of Labor Statistics reported on Wednesday that the consumer price index (CPI) rose 0.1% month over month, down from 0.2% in April, and prices rose 2.4% yearly, up from April’s  2.3%, but below the expectation for a 2.5% increase. Core CPI, which excludes volatile food and energy costs, rose 2.8% yearly, unchanged from April and a tick below the estimate for a 2.9% increase. The cooler-than-expected inflation data had driven down the Treasury yields and provided support to investors' sentiment early in the week. The S&P 500 fell 0.39% to close at 5976, the Dow Jones lost 1.32%, and the Nasdaq Composite decreased 0.63% for the week.

The S&P 500 closed the week at 5976, pulling back from the psychological resistance level of 6000. Despite this retreat, the overall uptrend remains intact, with the index holding above its 28-week exponential moving average (EMA) and maintaining strong underlying momentum. In the short term, however, we might see some weakness. The index broke below its 10-day EMA on Friday and appears to be testing the 20-day EMA, which is currently around 5927. Should the 20-day EMA fail to hold as support, the index could fall to its 28-week EMA at 5760. Conversely, if the index manages to stay above 5927, we could anticipate it breaking its previous high of 6147. The coming week will be crucial in determining whether short-term weakness prevails or if the broader uptrend reasserts itself.

The weekly chart of the S&P 500 index

Fund Rankings Update, 6/6/2025

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.

Stocks advanced higher, with the technology sector and small-cap stocks outperforming the broader market.   Investors' sentiment was boosted by positive earnings from AI-related companies and employment data.  Job data reported by the Labor Department showed the US added 139,000 jobs in May, down from 147,000 in April but better than the 130,000 expected.  For the week, the S&P 500 rose 1.5% to close at 6000, the Dow Jones gained 1.17%, and the Nasdaq Composite increased 2.18%.

The S&P 500 index broke out from the consolidation pattern in the last three weeks and closed above both the previous high of 5968 and the psychological resistance of 6000. As discussed in the last blog, the index has not only broken the high of last week's inside bar but also the previous high with strong momentum. This bullish development indicates that the index is marching toward a new all-time high.   

The weekly chart of the S&P 500 index