YCP ETF and Mutual Fund Rankings

Fund Rankings Update, 5/12/2023

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

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Major indices closed mixed for the week as quarterly earning report season come to an end. Technology stocks outperformed the general markets while financial sector underperformed. Weaker than expected April consumer price which rose 4.9% failed to boot investor sentiment as concern about health of reginal banks and US debt ceiling negotiation between Biden administration and congressional leaders prevailed. For the week, S&P 500 index went down 0.29% to 4124, Dow Jones Industrial Average lost 1.11%, whiled the technology laden NASDAQ composite index increased 0.4%.

S&P 500 index formed a directionless doji pattern as it closed a bit below where it stated at the beginning of the week. The index is still consolidating above its 28 week EMA with strong momentum. May and June are seasonally weak months for stocks and this year is no exception. We just have to be patient and wait for some cartelists to provide conviction to the market.

Weekly chart of S&P 500 index

Fund Rankings Update, 5/5/2023

Stocks closed lower with renewed worries about regional banks and after raising interest by 0.25% on Wednesday, Fed chair Jerome Powell commented that cutting rates might not occurs as early as market had hoped for. Uneasiness about US reaching its debt ceiling on June 1 also weighted on investor sentiment. For the week, S&P 500 index went down 0.8% to 4136, Dow Jones Industrial Average lost 1.24%, whiled the technology laden NASDAQ composite index increased 0.07%.

S&P 500 index formed another bullish pinbar candle stick pattern this week as shown in the weekly chart below. In the pin bar formation this week and last week, the wicks of the candles have successfully tested the 28 week EMA, and the short candle bodies above the trendline indicating that investors were willing to push the price higher. We are still looking forward to a break of 4200 for the index next week.

Weekly chart of S&P 500 index

Fund Rankings Update, 4/28/2023

Stocks closed higher amid the busiest week of corporate earning reports. Investors were encouraged by better than expected quarterly earnings announced after market close on Wednesday and Thursday from large tech companies such as Google, Facebook, Amazon and Microsoft. On the economy front, the estimated first quarter GDP came in 1.1% well below the expected 2.0% growth, durable goods order excluding aircraft and defense went down 0.4% in March, while retail inventories rose more than expected which further confirm the economy slow down. For the week, S&P 500 index went up 0.87% to 4169, Dow Jones Industrial Average gained 0.86%, and the technology laden NASDAQ composite index increased 1.28%.

S&P 500 index continues to inch higher with increasing momentum. We are looking forward to a break of 4200 next week.

Weekly chart of S&P 500 index

Fund Rankings Update, 4/21/2023

Stocks closed flat with negative bias as investors turned their attention to corporate earnings and economy growth. Analysts expect that overall earnings for S&P 500 index will decline for the second quarter and a mild recession is likely to come in the second half of this year. For the week, S&P 500 index went down 0.1% to 4133, Dow Jones Industrial Average lost 0.23%, while the technology laden NASDA composite index decreased 0.42%.

Technical picture for S&P 500 index stays the same as the index still stays above its 28 week EMA with high momentum. A break of 4200 next week will ensure the continuation of the uptrend since October last year.

Weekly chart of S&P 500 index

Fund Rankings Update, 4/14/2023

Stocks closed higher this week encouraged by the inflation data released Wednesday showing March consumer price index rose only 0.1%, below estimation. With the moderation of inflation, investors now expect Fed will stop hiking interest rate after the final raise by 0.25% in May. Investor sentiments were also boosted by positive quarterly earnings from JPMorgan Chase, Wells Fargo, and Citigroup. For the week, S&P 500 index went up 0.79% to 4137, Dow Jones Industrial Average gained 1.2%, while the technology laden NASDA composite index increased 0.29%.

S&P 500 closed above its 28 week EMA for the third week and gaining momentum. Our positive outlook for the next few weeks remains the same.

Weekly chart of S&P 500

Fund Rankings Update, 4/7/2023

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Stocks closed mixed in this holiday-shortened week. Investors turned their attention to economy growth as February job openings declined more than expected from the Labor department's report on Tuesday. For the week, S&P 500 index went down 0.1% to 4105, Dow Jones Industrial Average gained 0.63%, while the technology laden NASDA composite index decreased 1.1%.

S&P 500 index took a break from the recent rally and formed a neutral doji candle stick pattern. The index is still above its 28 week exponential moving average and with great momentum. We think the momentum can still carry the index higher in the next few weeks.

Weekly chart of S&P 500 index

Fund Rankings Update, 3/31/2023

Stocks advanced for the third week with all major indices posted solid weekly gains. Investors were relieved as the bank turmoil receded and the inflation appeared to cool down as personal consumption expenditure price index for February coming in at 4.6% below the expectation. For the week, S&P 500 index went up 3.48% to 41090, Dow Jones Industrial Average gained 3.22%, while the technology laden NASDA composite index increased 3.37%.

From weekly chart below, S&P 500 index has solidly closed above its 28 week exponential moving average as well as the psychological resistance level of 4000. Its momentum indicator has turned positive and heading higher. As the index has formed a higher low formation, we expect it to continue marching higher to form a higher higher bullish pattern in the next few weeks.

Weekly chart of S&P 500 index