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 FEMKX, Buy Cash
Stocks closed sharply lower this week as geopolitical instability and disappointing labor data sent investors fleeing from risk assets. Anxiety regarding an escalating conflict in the Middle East and its impact on global energy supplies dominated sentiment early in the week. However, the primary catalyst for Friday's sell-off was a shocking February jobs report from the Bureau of Labor Statistics (BLS), which revealed the US economy shed 92,000 jobs—far missing expectations of a 59,000-job gain. The unemployment rate edged up to 4.4%, while previous months' data saw downward revisions. This cooling of the labor market overshadowed earlier resilience and led to a broad-based retreat across nearly all sectors. For the week, the S&P 500 fell 2.02% to close at 6,740.02, the Dow Jones Industrial Average dropped 3.01%, and the Nasdaq Composite decreased 1.24% as the "AI trade" faced renewed scrutiny.
The S&P 500's technical structure has weakened significantly this week as the index failed to hold the critical 6800 support level. By closing at 6,740.02, the index finished below its 100-day EMA for the first time in over three months, signaling a potentially significant shift in the medium-term trend. If the index can not successfully defend its 28-week EMA at 6720, it may accelerate its downfall to retest the 200-day moving average at 6500.
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| The weekly chart of the S&P 500 index |
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