Fund Rankings Update, 9/22/2017

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 ETF model portfolio: Sell EWW, Buy ILF.

Without major economic news, stocks took a pause after reaching record high last week. Words from president Trump and North Korean leader Kim Jong-un failed to move the market either way.  For the week, S&P 500 index closed at 2502, up 0.08%, Dow Jones Industrial Average gained 0.36% while NASDAQ composite index decreased 0.33%.

Weekly chart of S&P 500 index

From weekly chart, S&P 500 index is still marching upwards with high momentum and trying to break above the 2500 resistance level. Technical indicators show that the trend will continue in the near future.  Among the industrial sector funds, defense sector is leading the short term race due to geopolitical tension with North Korea. On the international front, Brazil and Latin America funds have been strong recently due to recovery in oil prices. 

A trading signal was issued in ETF model portfolio as EWW (Mexico fund) falls out of the top 7 ranks in the ETF momentum ranking table and is replaced by the current number one ranked fund, ILF. We have held EWW for about 6 months with a gain of 9.3%.  

Fund Rankings Update, 9/15/2017

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.

Stocks rose strongly Monday as Hurricane Irma did not cause as severe damage as the forecast, and maintained the momentum throughout the week. On Thursday, inflation data showed that consumer price index went up 0.4% providing evidence that the Fed likely will raise interest at its December meeting.   For the week, S&P 500 index closed at 2500, up 1.58%, Dow Jones Industrial Average gained 2.16% and NASDAQ composite index increased 1.39%.

Weekly chart of S&P 500 index

S&P 500 challenged the 2500 resistance level this week. Its STO momentum indicator is again entering the overbought region (above 80) after reversing the downward direction 4 weeks ago.  Successful breaking of 2500 resistance indicates that the uptrend started in November 2016 will continue its advance, and we shall find that out soon in the next couple weeks.

Fund Rankings Update, 9/8/2017

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.

Stocks were mostly lower in this short trading week, weighed by the concern for hurricane Irma and missile launch from North Korea.  For the week, S&P 500 index closed at 2461, down 0.61%, Dow Jones Industrial Average lost 0.86% and NASDAQ composite index decreased 1.17%.

Weekly chart of S&P 500 index

S&P 500 index stayed in the 2400 - 2500 range as discussed last week. The index is still above its trend line and the momentum is still in the mid-upper range. There is no change to our outlook that the index will slowly grind higher with minor redistribution. 

Fund Rankings Update, 9/1/2017

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.

Stocks went up ahead of the labor day long weekend with low volume. For the week, S&P 500 index closed at 2476, up 1.37%, Dow Jones Industrial Average gained 0.8% and NASDAQ composite index increased 2.71%.

Weekly chart of S&P 500 index

In the weekly chart, S&P 500 index bounced from 2400 level last week and continue to going up this week. Its STO momentum indicator reverses the downward direction and heads back up. To continue the rally, the index has to break above 2500 level creating a higher high pattern. In the meantime, we may see it trading between 2400 to 2500 for a while before volume picks up.

Fund Rankings Update, 8/25/2017

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 sETF model portfolio: Sell ITB, Buy ITA

Stocks went up in the light trading week. With company earning report season behind us, political news about tax reform, and North Korea seems to drove the market direction. For the week, S&P 500 index closed at 2443, up 0.72%, Dow Jones Industrial Average gained 0.64% and NASDAQ composite index increased 0.79%

Weekly chart of S&P 500 index 

Weekly momentum indicator of S&P 500 index has fallen fast while the index still managed to stay above the supporting trend line. As discussed last week, the index is near the intermediate term support level of 2400. 2400 used to be a strong resistance and we will see if it has turned into a strong support.

In the sector rotation area, home construction index fund (ITB) has been weak in the past few weeks. Momentum rank of ITB has been stalled and fallen out of the top ranks in our sector fund (sETF) ranking table this week. A trading signal is issued in the sETF model portfolio, and the fund is replaced with the current number one ranked fund, ITA, for aero and defense.  

Fund Rankings Update, 8/18/2017

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.

Stocks went up at the beginning of the week as tension with North Korea receded. However, political instability in White House darken investors' confidence with Dow Jones Industrial Average dropping 274 points on Thursday.   For the week, S&P 500 index closed at 2428, down 0.65%, Dow Jones Industrial Average lost 0.84% and NASDAQ composite index decreased 0.64%

Weekly chart of S&P 500 ndex

In weekly chart, S&P 500 index is going through redistribution phase. The STO momentum indicator falls below 80 and heading downward. The index is still above its 28 moving average which stands close to the intermediate term support of 2400. This up-trend has been 10 month old with 20% gain so far. It needs a healthy pull back to digest the gain and move higher.

Fund Rankings Update, 8/11/2017

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.

Worrying about the escalated tension between US and North Korea, investors move to defensive position and sent the stock markets lower.  Notably, technology laden Nasdaq composite index lost 2.13% on Thursday.  For the week, S&P 500 index closed at 2441, down 1.43%, Dow Jones Industrial Average lost 1.06% and NASDAQ composite index decreased 1.5%

Weekly chart of S&P 500 index

With the down week on wall street, S&P 500 index still trading in the rising channel in the weekly chart. The index still stays above 28 week moving average and posses high momentum. Our outlook remains the same that the index will grind higher with minor redistribution along the way.