Fund Rankings Update, 6/30/2017

Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted in "Rankings", "Trading Logs" pages, and  http://ycprankings.awardspace.us/RankingTables.htm.

Weakness in technology stocks pulled down the markets.  For the week, S&P 500 index closed at 2423, down 0.61%, Dow Jones Industrial Average lost 0.21% and NASDAQ composite index decreased 1.99%.

Weekly chart of S&P 500 index

Banking and healthcare sectors are the two strong sectors supporting the general markets while energy sector and technology sector dragged down the market. S&P 500 pulled back from 2450 and rebounded at 2400 this week.  Its momentum indicator has come down a bit but the index is still way above its trend line. We maintain the same outlook as last week and expect some pulled back ahead.  

Fund Rankings Update, 6/23/2017

Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted in "Rankings", "Trading Logs" pages, and  http://ycprankings.awardspace.us/RankingTables.htm.

Energy stocks entered bear market territory while bank, health care and technology stocks showed some strength.  For the week, S&P 500 index closed at 2438, up 0.21%, Dow Jones Industrial Average gained 0.05% and NASDAQ composite index increased 1.84%.

Weekly chart of S&P 500 index

S&P 500 index has been trading in a narrow range near the top of the trading channel for the past 3 weeks. While its momentum is still in the high gear, we may see some healthy pulled back in the coming weeks. The overall uptrend is still intact and no major direction change is expected.  

Fund Rankings Update, 6/16/2017

Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted in "Rankings", "Trading Logs" pages, and  http://ycprankings.awardspace.us/RankingTables.htm.

It was a typical summer trading week. Federal Reserve raised interest rate as expected while US retail sales came in weaker than expected. As sell-off in technology sector continued, NASDAQ composite index lagged the other major indices.  For the week, S&P 500 index closed at 2433, up 0.06%, Dow Jones Industrial Average gained 0.53% and NASDAQ composite index decreased 0.9%.

weekly chart of S&P 500 index

S&P 500 index eked out a small gain in the face of sell-off in technology sector. In the sETF and SELECT ranking tables, we can see the short term momentum indicator (SMI) of the software and computer related sectors has decreased in the last two weeks. Money rotated out of the technology sectors went into defensive sectors like health care , medical device and utility. With major indices, especially NASDAQ, over-extended themselves in May, we may see consolidation similar to the one in March and April continues. 

Fund Rankings Update, 6/9/2017

Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted in "Rankings", "Trading Logs" pages, and  http://ycprankings.awardspace.us/RankingTables.htm.

Trading signal occurs in SELECT model portfolio: Sell FDCPX, Buy FSPTX

Without major economic news, it was a typical quiet summer trading week till Friday. Sell off in leading technology companies pulled NASDAQ composite index more than 100 points in a day, while S&P 500 index and Dow Jones Industrial Average closed the day flat.  For the week, S&P 500 index closed at 2431, down 0.3%, Dow Jones Industrial Average gained 0.31% and NASDAQ composite index decreased 1.55%.

Weekly chart of S&P 500 index

Even with sharp drop in prices of leading technology companies due to profit taking on Friday, S&P 500 still stays the course marching higher with high momentum.  Outlook for S&P 500 index remains positive, as there is no deterioration in its technical picture.

Fund Rankings Update, 6/3/2017

Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted in "Rankings", "Trading Logs" pages, and  http://ycprankings.awardspace.us/RankingTables.htm.

US job report showed increase of only 138,000 jobs in May, lower than expectation but major stock indices still trending higher.  For the week, S&P 500 index closed at 2439, up 0.96%, Dow Jones Industrial Average gained 0.6% and NASDAQ composite index increased 1.54%.

Weekly chart of S&P 500 index

S&P 500 index first reached the intra-week high of 2400 in February. After struggling for 11 weeks and several attempts, it finally closed above the 2400 resistance last week and advanced even higher this week. With the resistance behind its back, we expect the index to continue the uptrend and climb higher. 

Fund Rankings Update, 5/26/2017

Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted in "Rankings", "Trading Logs" pages, and  http://ycprankings.awardspace.us/RankingTables.htm.

With no political news dragging behind, stocks powered ahead.  S&P 500 index and Nasdaq composite index all reached record high.  For the week, S&P 500 index closed at 2415, up 1.43%, Dow Jones Industrial Average lost 1.32% and NASDAQ composite index increased 2.08%.

Weekly chart of S&P 500 index

Fund Rankings Update, 5/19/2017

Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted in "Rankings", "Trading Logs" pages, and  http://ycprankings.awardspace.us/RankingTables.htm.

Trading signal occurs in iETF model portfolio: Sell INP, Buy EWP

Political turmoil shook Wall Street's confidence about economy policy reform from Trump administration mid-week. Major indices fell sharply on Wednesday with Dow Jones Industrial Average dropped more than 300 points in one day. However, markets recovered quickly Thursday and Friday and DJIA gained back two third of its loss.  For the week, S&P 500 index closed at 2381, down 0.38%, Dow Jones Industrial Average lost 0.44% and NASDAQ composite index decreased 0.61%.

Weekly chart of S&P 500 index

Again, S&P 500 index failed to closed above 2400 resistance in the weekly chart. The index broke above 2400 on Tuesday but fell off sharply right away Wednesday and closed below 2400 for the week. Even though the index still managed to stay above 28 week moving average, the failure to break the resistance and the increase in volatility do not bode well for the up-trend. A correction phase may be upon us, if the large intra-week swing continues.