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 FEMKX timing system: Sell Cash, Buy FEMKX
U.S. stocks began the new year with a strong push. Small caps and value stocks outperformed large-cap growth stocks. Economic data showed signs of cooling in the US labor market, as the December nonfarm payroll added only 50,000 jobs, less than expected. Additionally, ADP reported that private payrolls increased by 41,000 in December, far less than the expected 47,000. For the week, the S&P 500 advanced 1.57% to close at 6966, the Dow Jones Industrial Average rose 1.57%, and the Nasdaq Composite index jumped 1.88%.
The S&P 500 has demonstrated significant bullish strength, decisively closing at 6,966 and clearing the critical 6,920 resistance level. This breakout confirms a continuation of the prevailing uptrend as the index marches toward our price target of 7,200.
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| The weekly chart of the S&P 500 index |
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