Fund Rankings Update, 9/25/2026

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 Select model portfolio: Sell FBIOX, Buy FSCSX

Stocks snapped a two-week losing streak and finished higher this week, as a Friday rebound in technology shares offset pressure from surging Treasury yields and volatile oil prices. The bond market was the week's dominant theme, with the 10-year Treasury yield touching 5.228% — its highest level since 2007 — on hawkish Federal Reserve rhetoric and resilient economic data, while the 30-year yield broke above 5.5% for the first time in 22 years. Oil prices spiked midweek on U.S.–Iran tensions surrounding the Strait of Hormuz before pulling back Friday on reports of a possible phased deal to reopen the waterway. Chipmakers and mega-cap software names led the recovery, with Microsoft closing up nearly 4% on Friday. For the week, the S&P 500 gained 1.21% to close at 7,743, the Dow Jones Industrial Average gained 0.28% to finish at 51,829, while the tech-heavy Nasdaq Composite outperformed, rising 2.06% to settle at 27,069.

From a technical perspective, the S&P 500 extended its high-level digestion base, closing within 0.7% of its August record high despite midweek pressure from historic bond yields. The index held comfortably above its short-term 10-day and 20-day EMAs throughout the week, and Friday's push carried it into the 7,720–7,750 overhead supply zone, keeping buyers in control of the intermediate trend. A decisive weekly close above the August 13 record of 7,799 would re-ignite the primary uptrend toward the 7,850 target. On the downside, the 7,600 zone continues to serve as immediate technical support, backed by our primary structural floor at 7,500. With the S&P 500 settling at 7,743, our long-term structural trend-following indicators remain firmly in a "Hold" posture with no sell triggers fired.

The weekly chart of the S&P 500 index

Fund Rankings Update, 9/18/2026

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 delivered a mixed, range-bound performance this week, with major indices showing marked dispersion as investors weighed the first rate hike from the Fed since 2003. Rising oil prices from the escalation of conflict in the Middle East and rising Treasury yields also weighed on stock prices.  However, early-week caution gave way to a targeted technology rally, propelled by mega-cap software and semiconductor names that absorbed broader interest-rate anxiety. For the week, the S&P 500 slipped a modest 0.08% to close at 7,650, the Dow Jones Industrial Average dropped 1.69% to finish at 51,682, while the tech-heavy Nasdaq Composite outperformed, rising 0.72% to settle at 26,522.

From a technical perspective, the S&P 500 continued to build a high-level digestion base, holding within striking distance of its recent consolidation range despite mid-week intraday pressure. Price action saw the index test its 100-day EMA on the daily chart, with buyers stepping in to defend key 7500 support and prevent a deeper structural breakdown. Overhead resistance remains clearly defined at the 7,720–7,750 region, requiring a high-volume weekly close to re-ignite the primary uptrend toward the 7,850 target. On the downside, the 7,600 zone continues to serve as immediate technical support, backed by our primary structural floor at 7,500. With the S&P 500 settling at 7,650.00, our long-term structural trend-following indicators remain firmly in a "Hold" posture with no sell triggers fired.

The weekly chart of the S&P 500 index

Fund Rankings Update, 9/11/2026

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 SSPP model portfolio: Sell FOCPX, Buy FICDX

Trading signal occurs in HSA model portfolio: Sell DCZRX, Buy VFTAX

Stocks experienced a corrective pullback this week as investors confronted renewed inflation jitters and shifting macroeconomic expectations ahead of the September Federal Open Market Committee (FOMC) meeting. Early-week trading was weighed down by hotter-than-expected producer price data and a fresh wave of profit-taking across mega-cap technology names. Sentiment remained cautious as Treasury yields ticked upward, prompting institutions to lock in gains and reassess valuations following the strong summer advance. While mid-week dips saw mild dip-buying emerge around key technical thresholds, the broader market failed to gather sufficient upside momentum to reverse the weekly losses. For the week, the S&P 500 declined 0.8% to close at 7,656, the Dow Jones Industrial Average dropped 1.57% to finish at 52,573, and the tech-heavy Nasdaq Composite fell 0.66% to settle at 26,333.

From a technical perspective, the S&P 500 retreated from its recent consolidation range, testing the lower bounds of its short-term moving average structure. The index slipped below its 10-day and 20-day EMAs during the mid-week distribution, indicating a temporary cooling of near-term momentum. However, price action successfully held above the primary structural support zone near 7,600, keeping the intermediate uptrend framework intact for now. Looking ahead, the former support region around 7,720–7,750 now shifts back to immediate overhead resistance, while the multi-week floor at 7,500 remains the critical line in the sand for structural defense. With the S&P 500 closing the week at 7,656, our long-term structural trend indicators remain safely in a "Hold" posture with no sell triggers fired.

The weekly chart of the S&P 500 index

 

Fund Rankings Update, 9/4/2026

 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 extended their high-level consolidation this week, trading in a narrow range ahead of the Labor Day holiday weekend as market participants digested strong labor data and assessed the outlook for monetary policy. Equity markets experienced quiet trading early in the week amid low late-summer volumes, though pressure mounted as Treasury yields climbed following hawkish Federal Reserve commentary. Sentiment received a late boost from robust private payroll figures, but Friday's session ended lower after the August Nonfarm Payrolls report came in stronger than expected with 162,000 jobs added, reinforcing expectations that the Fed may keep interest rates elevated. For the week, the S&P 500 edged up a modest 0.09% to close at 7,718, the Dow Jones Industrial Average slipped 0.27% to end at 53,414, and the tech-heavy Nasdaq Composite rose 0.40% to settle at 26,506.  

From a technical perspective, the S&P 500 continued to execute a tight, high-level digestion pattern following its mid-August pullback. By absorbing late-week selling pressure without surrendering key support, the index held comfortably above its 28-week EMA, keeping the intermediate uptrend structure firmly intact.  Looking ahead, the 7,850 level remains the primary overhead resistance target for bulls targeting new high ground, while initial technical support continues to rest at the 7,600–7,640 zone, backed by primary structural support at 7,500. With the S&P 500 settling safely at 7,718, our long-term structural trend indicators remain firmly in a "Hold" posture with no sell triggers fired.

The weekly chart of the S&P 500 index

Fund Rankings Update, 8/28/2026

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 sETF model portfolio: Sell IXN, Buy IBB

Stocks stabilized in a narrow range this week, as investors digested mixed economic data and absorbed Federal Reserve Chair Kevin Warsh’s remarks at the Jackson Hole Economic Symposium. Early-week trading remained cautious, with investors' sentiment supported by strong results from NVIDIA and declining oil prices. However, market sentiment turned sour on Friday after FED Chair Kevin Warsh struck a hawkish tone, noting that the Fed’s 2% personal consumption expenditures (PCE) inflation target is “firm” and further rate policy tightening remains possible if inflation does not move toward the target.  For the week, the S&P 500 gained 0.49% to close at 7,711, the Dow Jones Industrial Average rose 0.53% to end at 54,244, and the tech-heavy Nasdaq Composite edged up 0.85% to settle at 26,275.  

From a technical perspective, the S&P 500 spent the week in high-level consolidation following the prior week's pullback. By absorbing selling pressure without surrendering key support, the index held firmly above its short-term 10-day and 20-day EMAs, keeping the broader intermediate uptrend structure intact. Looking ahead, the 7,850 level remains the primary overhead resistance target for bulls aiming to push toward new record highs. On the downside, initial technical support continues to rest at the 7,600–7,640 zone, backed by primary structural support at 7,500. With the S&P 500 settling safely at 7,711, our long-term structural trend indicators remain firmly in a "Hold" posture with no sell triggers fired.

The weekly chart of the S&P 500 index

 

Fund Rankings Update, 8/21/2026

 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 SELECT model portfolio: Sell FDCPX, Buy FBIOX

Stocks experienced a pullback this week as investors digested mixed macroeconomic signals and absorbed minutes from the latest Federal Open Market Committee (FOMC) meeting. Market tone turned cautious early in the week following strong retail sales data and higher Treasury yields, which tempered previous optimism surrounding potential Federal Reserve policy easing. Midweek release of the FOMC minutes reinforced a "higher-for-longer" interest rate sentiment, leading to profit-taking across mega-cap technology and broad-market indices. Sentiment stabilized slightly on Friday after data showing that U.S. business activity accelerated in August and the S&P Global Flash Composite Purchasing Managers’ Index (PMI) rose to 56.0 from 54.5 in July.  For the week, the S&P 500 declined 1.43% to close at 7,674, the Dow Jones Industrial Average dropped 0.85%, and the tech-heavy Nasdaq Composite fell 2.05%.  

From a technical perspective, the S&P 500 pulled back from its prior record highs, testing a short-term moving average. Despite slipping below its 10-day EMA during the midweek sell-off, the index held firmly above key structural support level near 7,600, keeping the broader intermediate uptrend intact. The 7,850 level remains the primary overhead resistance target for bulls looking to resume the primary trend. At the same time, initial technical support now rests at the 7,600–7,640 zone, followed by primary structural support down at 7,500. With the S&P 500 settling safely at 7,674.37, our long-term structural trend indicators remain in a "Hold" posture with no sell triggers fired. 

The weekly chart of the S&P 500 index

Fund Rankings Update, 8/14/2026

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 model: Sell Cash, Buy FEMKX

Stocks took a breath this week following the previous week's explosive breakout, digesting recent gains in a tight, high-level consolidation range. Market action was largely anchored by major macroeconomic releases, starting with a cooler-than-expected July Consumer Price Index (CPI) report on Wednesday that showed annual inflation moderating to 3.2%, reinforcing expectations that the Fed will pause at its September meeting. Sentiment received another boost after Thursday's Producer Price Index (PPI) came in below consensus estimates. The softer inflation reports helped reduce expectations for a rate hike at the Fed’s September meeting.  However, rising oil prices and continued uncertainty surrounding the Strait of Hormuz kept investor sentiment in check.  For the week, the S&P 500 edged up a modest 0.36% to close at 7,785, the Dow Jones Industrial Average slipped 0.56%, while the tech-heavy Nasdaq Composite rose 0.14%.

From a technical perspective, the S&P 500 executed a textbook "digestion" phase, holding firmly above its newly established support levels without giving up significant ground. After reaching record highs near 7,757 last week, the index spent the week consolidating in a narrow range above its rising 10-day EMA, confirming that buyers remain in control of the underlying trend. Looking ahead, the immediate resistance target remains at the 7,850 region, while the former breakout level at 7,500 continues to serve as the primary structural support. With the index settling safely at 7,785, our long-term structural trend indicators remain firmly in a "Hold" posture with no sell triggers fired. 

The Weekly Chart of the S&P 500 index

Fund Rankings Update, 8/7/2026

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 extended their gains into a second consecutive week, powered by a robust continuation of Q2 earnings momentum and optimism about the potential reopening of the Strait of Hormuz. Early-week trading saw indexes break decisively above immediate overhead resistance, buoyed by strong mega-cap corporate results and reports of progress on an agreement to reopen the Strait of Hormuz. Mid-week economic data highlighted ongoing resilience in the services sector along with steady productivity gains. Investor sentiment further improved on Friday following the BLS July jobs report. The data showed a cooling yet stable labor market and slowing wage growth, easing pressure on the Federal Reserve to raise interest rates at its September meeting.  For the week, the S&P 500 surged 3.58% to close at a new record high of 7,757. The Dow Jones Industrial Average added 2.96% to finish at 54,036, while the tech-heavy Nasdaq Composite led the rally, surging 5.19% to settle at 26,690.  

From a technical perspective, the S&P 500 delivered a decisive breakout above the key 7,500 resistance level highlighted last week, invalidating the previous corrective posture. The index expanded rapidly to register another record high of the year, cleanly crossing the 7,700 milestone target. The short-term 10-day and 20-day EMAs have turned sharply upward, providing strong underlying dynamic support on any prospective pullbacks.  Looking ahead, the former breakout level at 7,500 now shifts to primary support, backed by lower structural support near 7,350–7,400. Near-term upside momentum targets the 7,850 region. With the S&P 500 settling at 7,757, long-term structural trend indicators remain firmly in a "Hold" posture with no sell triggers fired.

The weekly chart of the S&P 500 index

 

Fund Rankings Update, 7/31/2026

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 iETF model portfolio: Sell EWY, Buy EWT

Stocks snapped a two-week losing streak, weathering a sharp mid-week sell-off after the Federal Reserve left the benchmark interest rate unchanged at 3.50% to 3.75% amid a hawk-heavy, split decision. Early-week sentiment was also weighed down by persistent skepticism surrounding AI capital expenditures, but the tone reversed sharply on Thursday following Microsoft’s stronger-than-expected cloud revenue growth. On the economic front, the Bureau of Economic Analysis (BEA) reported that the core Personal Consumption Expenditures (PCE) price index rose 0.1% in June—cooler than the 0.2% consensus estimate—bringing the year-over-year core rate down to 3.3% from 3.4% in May. Meanwhile, second-quarter GDP growth moderated to an annualized 1.5% rate, missing expectations of 2.1%. For the week, the S&P 500 gained 1.05% to close at 7,489.72, the Dow Jones Industrial Average added 1.04% to finish at 52,485, and the tech-heavy Nasdaq Composite jumped 1.59% to settle at 25,373.

From a technical perspective, the S&P 500 executed a clean test and defense of its underlying support structures. Wednesday’s dip to 7,316 successfully held well, setting up a sharp mean-reversion move that reclaimed the short-term 10-day and 20-day EMAs by Friday’s close. Looking above, the 7,500 level remains the short-term technical resistance. A clean, high-volume weekly close above this level is required to neutralize the recent corrective posture and open the path toward 7,700. On the other hand, the tested 7,200 level acts as a defender for any near-term pullbacks. With the index finishing the week at 7,489, our long-term structural trend indicators remain safely in a "Hold" posture with no sell triggers fired.

The weekly chart of the S&P 500 index

Fund Rankings Update, 7/24/2026

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 HSA model portfolio: Sell SEMTX, Buy DCZRX

Stocks extended their pullbacks for a second consecutive week, as ongoing sector rotation out of mega-cap technology and semiconductors continued to weigh on the broader indices. Despite a late-week stabilization led by value and traditional industrial sectors, chipmakers and large-cap tech shares faced persistent selling pressure. On the macroeconomic front, elevated bond yields—driven by geopolitics and fresh tariff discussions—kept upside momentum capped as market participants shifted focus toward next week’s upcoming Federal Reserve policy meeting.  For the week, the S&P 500 declined 0.61% to close at 7,411, the Dow Jones Industrial Average slipped 0.38% to end at 51,947, and the tech-heavy Nasdaq Composite shed 2.13% to close at 24,975.

On the technical side of the S&P 500, the index remains stuck beneath its short-term 10-day and 20-day EMAs, confirming that the short-term corrective posture remains in effect. Looking overhead, the 7,500 level remains as crucial short-term resistance; a decisive, high-volume weekly close above 7,500 is still required to reverse the immediate downtrend and reopen the path toward the 7,700 objective. On the downside, key support at 7,200 continues to serve as the primary line of defense for any further pullback. On the weekly timeframe, the index continues to digest recent gains via sideways consolidation while allowing the 28-week EMA to catch up. As long as price action holds above this moving average, the longer-term structural bull trend remains fully intact. We will continue to track the index's interaction with short-term moving averages and key support levels ahead of the Fed's decision next week.

The weekly chart of the S&P 500 index

Fund Ranking Update, 7/17/2026

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 structural push toward new record territory hit an aggressive wall of distribution this week, putting an abrupt end to the mid-July recovery.  Stocks were weighed down by large-cap tech and artificial intelligence (AI)-linked shares despite encouraging results from Taiwan Semiconductor Manufacturing and chip-machine supplier ASML.  On the economic data front, the June CPI and PPI all fell more than expected, which reduces the odds for a rate hike in the next Fed policy meeting under the new Chairman, Kevin Wash.  For the week, the S&P 500 fell 1.55% to close at 7457, the Dow Jones Industrial Average retreated 0.93%, and the tech-heavy Nasdaq Composite went down 2.9%.

On the technical side of the S&P 500 index, the heavy volume slide on Friday has forced a definitive break below the short-term 10-day and 20-day EMAs, signaling that the daily chart is entering a deeper phase of high-level consolidation. However, on the weekly chart, the index remains in sideways consolidation, awaiting the 28-week EMA to catch up.  Looking above, the 7,500 level remains the short-term technical resistance. A clean, high-volume weekly close above this level is required to neutralize the recent corrective posture and open the path toward 7,700. On the other hand, the tested 7,200 level acts as a defender for any near-term pullbacks. As the index stays above the 28-Week EMA, the longer-term structural uptrend remains intact. We will monitor the index's behavior around its 28-Week EMA over the next few weeks.

The weekly chart of the S&P 500 index

 

Fund Rankings Update, 7/10/2026

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 high-level consolidation that began in mid-June officially resolved to the upside this week, driven by block-buster corporate data and unexpected structural changes within the tech landscape.  For the week, the S&P 500 rose 1.23% to close at 7575, the Dow Jones Industrial Average fell 0.5%, and the tech-heavy Nasdaq Composite advanced 1.74%.

The weekly chart of the S&P 500 index

Fund Rankings Update, 7/2/2026

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 structural correction that defined late June staged a resilient, choppy reversal this week, helped along by a lighter holiday schedule.  For the week, the S&P 500 rose 1.76% to close at 7483, the Dow Jones Industrial Average went up 1.97%, and the tech-heavy Nasdaq Composite jumped 2.12%.

The weekly chart of the S&P 500 index

Fund Rankings update, 6/26/2026

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 structural push into the end of the quarter hit a major technical speed bump this week. Selling pressure was relentless, forcing the S&P 500 to fall every single day and snapping its brief post-holiday recovery.  The five-day slide marks the longest losing streak for the broad market since last August, leaving the index sitting roughly 3.4% below the all-time highs established on June 2nd.  For the week, the S&P 500 lost 1.95% to close at 7294, the Dow Jones Industrial Average rose 0.6%, while the tech-heavy Nasdaq Composite plunged 4.6%.

On the technical picture of the S&P 500 index,  the 7,500 level remains the short-term technical resistance. A clean, high-volume weekly close above this level is required to neutralize the recent corrective posture and open the path toward 7,700. On the other hand, the tested 7,200 level acts as a defender for any near-term pullbacks.

The weekly chart of the S&P 500 index

Fund Rankings Update, 6/19/2026

 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 SELECT model portfolio: Sell FSENX, Buy FDCPX

Trading signal occurs in sETF model portfolio: Sell IEZ, Buy IXN

The major averages closed higher this week supported by the news that the U.S. and Iran had signed an interim agreement extending the April ceasefire by 60 days, allowing commercial shipping to resume safely through the Strait of Hormuz.  For the week, the S&P 500 rose 0.93% to close at 7500, the Dow Jones Industrial Average gained 0.71%, and the tech-heavy Nasdaq Composite shot up 2.43%.

The weekly chart of the S&P 500 index

Fund Rankings Update, 6/12/2026

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 major averages clawed their way back to lock in a positive week, breaking the early June correction momentum. Volatility took center stage, but the market found solid footing by Thursday and Friday, riding a massive wave of capital from the historic SpaceX IPO as well as significant diplomatic progress in the Middle East.  For the week, the S&P 500 rose 0.65% to close at 7,431, the Dow Jones Industrial Average gained 0.66%, and the tech-heavy Nasdaq Composite advanced 0.7%.

The S&P 500 index executed a healthy stabilization this week, defending its immediate support levels and recovering part of the early-June drawdown. The index reached a low of 7231 mid-week and rebounded to close at 7431, right above its 20-day EMA. On the upside, the 7500 level remains the short-term technical resistance.  A clean, high-volume weekly close above this level is required to neutralize the recent corrective posture and open the path toward 7,700.  Conversely, the recently tested 7,200 level serves as a firm support, acting as a crucial defender against any near-term pullbacks.      

The weekly chart of the S&P 500 index

Fund Rankings Update, 6/5/2026

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 FEMKX timing model: Sell FEMKX, Buy Cash

Stock markets faced their sharpest reality check in months this week, as a massive Friday sell-off in mega-cap technology companies dragged down the broader averages. The S&P 500 slumped 2.6% on Friday alone, marking its worst single-day performance since last October.  The slump was due to the strong Job reports from the Labor Department on Friday morning that the economy added 172,000 jobs in May, nearly doubling economists' consensus expectations. While the unemployment rate held steady at 4.3%, the strong job creation and positive revisions to prior months sent Treasury yields surging. The 10-year Treasury yield climbed sharply to 4.54%, as market participants rapidly priced in the likelihood that the Federal Reserve will hold interest rates higher for longer, or potentially even consider a rate hike later this year.  For the week, the S&P 500 fell 2.6% to close at 7,383, the Dow Jones Industrial Average slipped 1.3%, and the tech-heavy Nasdaq Composite bore the brunt of the damage, plunging 4.2% to close at 25,709.

The S&P 500 underwent a major technical rejection at 7600 level, failing to sustain its position in "blue sky" territory and plummeting back below the 7,500 psychological barrier. By closing at 7,383, the index has wiped out its late-May gains and is now aggressively testing its short-term moving averages. The vertical nature of Friday's drop suggests that momentum has shifted to neutral-bearish in the immediate term, though the structural long-term trend remains intact. The 7500 flips from support to short-term technical resistance now that it has been broken, while 7200, the previous breakout point, becomes short-term support with the previous high of 7000, which also coincides with the 28-week EMA as a further downside support.    

The weekly chart of the S&P 500 index

Fund Rankings Update, 5/29/2026

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 RSP model portfolio: Sell 42635, Buy FDGRX

Stocks closed the final week of May on a high note, with the S&P 500 surging to a new closing record of 7,580. The rally was driven by a relentless "risk-on" appetite as investors looked past lingering macroeconomic concerns to focus on the explosive growth within the information-technology sector. While short-dated U.S. Treasury yields nudged higher following a University of Michigan survey that indicated sticky inflation expectations, the market largely shrugged off these signals and instead fixated on the unprecedented "AI frenzy".  For the week, the S&P 500 gained 1.43% to close at 7580, the Dow Jones Industrial Average increased 0.9%, and the Nasdaq Composite rose by 2.39%.

The S&P 500 is displaying classic signs of a "momentum-driven" market. Closing at 7,580, the index has decisively cleared the psychological 7,500 resistance level and is currently in "blue sky" territory, meaning it is trading at all-time highs with no immediate overhead technical resistance.  However, we must remain vigilant for the potential of short-term mean-reversion pullbacks.  With the index at an all-time high, the immediate price target (resistance) has been raised to the 7700 level. The 7500 level has been flipped from a resistance to a short-term technical support with 7400 as a further down side support.   

The weekly chart of the S&P 500 index

Fund Rankings Update, 5/22/2026

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 experienced a week of high-level consolidation as investors navigated a flurry of mixed signals from the Federal Reserve and ongoing geopolitical uncertainty. The release of the Federal Reserve’s May FOMC minutes mid-week revealed that a majority of officials are now open to potential interest-rate increases if inflation remains stubborn. This "hawkish" pivot, coupled with the absence of a breakthrough in U.S.-Iran negotiations, kept markets on edge. However, the energy sector's resilience and a steady stream of solid earnings reports provided enough support to keep the major indices near their recent record peaks.  For the week, the S&P 500 gained 0.83% to close at 7473, the Dow Jones Industrial Average increased 2.13%, and the Nasdaq Composite rose by 0.45%.

The S&P 500 continues to hold its ground at the upper end of its bullish channel. Despite the mid-week dip, the index reclaimed the 7,400 level by Friday’s close, suggesting that buyers remain active on any meaningful pullback. The primary technical ceiling remains at the 7,500–7,520 zone. A clean weekly close above this level is required to initiate the next leg toward 7,650.  The short-term support still lies at the 7,200, which represents the prior breakout junction. If the index slips below this on a closing basis, the next major support zone is the 7,000 level, which is the previous high and aligns with the 28-week EMA. 

The weekly chart of the S&P 500 index

Fund Rankings Update, 5/15/2026

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 ETF model portfolio: Sell ILF, Buy IYW

Stocks finished the week flat, with the S&P 500 breaking past the historic 7,500 threshold intraweek before encountering Friday profit-taking. Geopolitical noise in the early week weighed on investor sentiments as statements regarding the US-Iran ceasefire being "on life support" briefly pushed Brent crude over $104 a barrel, prompting a temporary revival of energy inflation anxieties before commodity markets stabilized.  Economic data released this week reflected an ongoing tug-of-war between strong corporate earnings and sticky price pressures. On Tuesday, the Bureau of Labor Statistics (BLS) reported that the April Consumer Price Index (CPI) printed at 3.8% year-over-year, driven primarily by a sharp annualized spike in retail gasoline costs. However, core CPI rose a tamer 0.2% month-over-month, matching consensus estimates.  For the week, the S&P 500 gained 0.13% to close at 7408, the Dow Jones Industrial Average decreased by 0.17%, and the Nasdaq Composite finished essentially flat, lower by 0.08%.

The S&P 500 index established a new all-time high of 7,517.12 on Thursday before facing a healthy dose of technical profit-taking to close the week at 7,408.  Despite the Friday slide of 1.24%, the primary structural uptrend is completely intact. The index remains in a strong primary bullish trend, trading 7.9% above its 28-week exponential moving average.  As the index is far above its trend line, we are starting to see a high level of sideways consolidation.  The immediate overhead technical ceiling has now been defined at the 7,500–7,520 zone. A clean, high-volume weekly close above this area opens the door to target the 7,650 extension level.  The short-term support lies at the 7,200, which represents the prior key breakout junction and aligns with the 28-week EMA. 

 

The weekly chart of the S&P 500 index