Fund Rankings Update, 10/20/2017

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.

Brighter prospect of a tax reform by the end of the year as Senate passed the budget resolution boosted major indices into another record high.  For the week, S&P 500 index closed at 2575, up 0.86%, Dow Jones Industrial Average gained 2.0% while NASDAQ composite index increased 0.35%.

Weekly chart of S&P 500 index

S&P 500 index has moved decisively higher after indecision the week before as shown in the weekly chart. The momentum indicator is at the extreme overbought region and appears to carry the index even higher. However, the speed of advance for this rally is faster than the trend line since mid August and the index is currently at 5% above its 28 week moving average. Caution is warranted as short term pull back may be quick and intense. 

Fund Rankings Update, 10/13/2017

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.

Strong economic data in employment and retail sales were balanced out by political turmoil in Washington as we enter the 3rd quarter earning season. Stocks closed mostly flat after reaching record high a week ago.  For the week, S&P 500 index closed at 2553, up 0.15%, Dow Jones Industrial Average gained 0.43% while NASDAQ composite index increased 0.24%.

Weekly chart of S&P 500 index

The momentum carries the S&P to a new high this week with a small gain. Note that an indecision Doji candle stick pattern was formed in the weekly chart this week as well. In a Doji candle stick pattern, the index reached its high and low during the week but ended up where it began at the start of the week. The Doji pattern usually indicates an oncoming price reversal as the index is trading at the top of its trading channel, which is consistent of our observation last week. 

Fund Rankings Update, 10/6/2017

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.

Better than expected economic data in manufacturing and service sectors drove the stock markets higher. All major indices reached their record high with S&P 500 index closed higher for 8 days in a row, its longest winning steak since 2013.  For the week, S&P 500 index closed at 2549, up 1.19%, Dow Jones Industrial Average gained 1.65% while NASDAQ composite index increased 1.45%.

Weekly chart of S&P 500 index

S&P 500 index continues its uptrend with high momentum. The slope of its advanced has changed to the upside which warrants some caution in the weeks ahead. We can find a similar pattern looking back at the weekly chart in February/March time frame.  At that time, the index experienced a small pulled back for 6 weeks after the index moved up a lot faster than its 28 week moving average. We will see how the market plays out this time around. 

Fund Rankings Update, 9/29/2017

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 HSA model portfolio: Sell VTRIX, Buy FKAIX.

Boosted by announcement of Republican's tax plan and rebound in technology stocks, all major indices marched higher this week. S&P 500 index closed at 2519, up 0.68%, Dow Jones Industrial Average gained 0.25% while NASDAQ composite index increased 1.07% for the week.

Weekly chart of S&P 500 index

I have updated the HSA ranking table with the current funds in HSA plan. As a results, quite a few funds were removed and new funds added. A trading signal in HSA trading log was issued to reflect the change. However, as new funds do not have enough historical price data, the rankings will need a few week to stabilize.

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.