YCP ETF and Mutual Fund Rankings

Fund Rankings Update, 4/5/2024

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

Stocks pulled back this week as treasury yields rose in response to positive economic data. The March ISM manufacturing index released Monday came in higher than expected and the job report released Friday indicated that the US added 303000 jobs well above the expected 200,000. These positive economic data have encouraged the Fed to take a wait-and-see attitude toward rate cuts and diminishing the likelihood of a rate cut in June. For the week, the S&P 500 fell 0.95% to 5024, the Dow Jones Industrial Average plunged 2.27% and the Nasdaq composite index went down 0.8%.

The S&P 500 index continued its sideway consolidation this week. The deviation from its 28-week EMA has been reduced to 7.5%. As discussed last week, the side-way consolidation is healthier and preferable than a sharp pull-back toward the trend line. Investors can reenter or take more risk when the trend line catches up with the index.

The weekly chart of the S&P 500 index

Fund Rankings Update, 3/29/2024

Stocks closed mixed for the holiday-shortened week. The economic data released during the week were mixed as well The durable goods rose 1.4% in February more than expected while consumer confidence ticked down slightly in March. For the week, the S&P 500 climbed 0.39% to 5254, the Dow Jones Industrial Average increased 0.84% while the Nasdaq composite index went down 0.3%.

As the S&P 500 index stays above its 28-week exponential moving average with extreme deviation, it starts to go side way more often. We welcome this healthy side-way consolidation to digest the lofty gain since the beginning of the year.

The weekly chart of the S&P 500 index

Fund Rankings Update, 3/22/2024

Stocks marched broadly higher after two weeks of pauses. The S&P 500 and Nasdaq composite both reached new record highs after the Federal Reserve left interest rates unchanged at its policy meeting on Wednesday. The Fed still anticipates cutting rates three times by the end of the year. The S&P 500 climbed 2.29% to 5234 for the week, while the Dow Jones Industrial Average increased 1.97% and the Nasdaq composite index went up 2.85%.

Following two weeks of sideways consolidation, the S&P 500 index surged higher, decisively breaking above the previously discussed 5170 resistance level. The next resistance level is 5340, 2% above where it is right now. With the high momentum, the index appears poised to continue its upward climb.

The weekly chart of the S&P 500 index

Fund Rankings Update, 3/15/2024

Fund rankings and trading logs will not be available this week due to my travel with limited internet access.

Fund Rankings Update, 3/8/2024

Trading signal occurs in ETF model portfolio: Sell IGV, Buy IGM.

Stocks took a pause ending the week where it began while reaching another new all-time high during the week. For the week, the S&P 500 index retreated 0.26% to 5123. The Dow Jones Industrial Average decreased 0.93%, and the Nasdaq went down 1.17%.

The weekly chart of the S&P 500 index

Fund Rankings Update, 3/1/2024

Trading signal occurs in iETF model portfolio: Sell EWW, Buy EWN.

Stocks marched upwards for another week as NASDAQ composite index reached a new record high. All eyes were on the core personal consumption expenditures (PCE) price index released Thursday. The index went up 0.4% month over month and 2.8% year over year, which aligned with expectations from Wall Street. For the week, the S&P 500 index advanced 0.95% to 5137. The Dow Jones Industrial Average decreased 0.11%, and the Nasdaq went up 1.74%.

The S&P 500 index continued to rally higher stepping closer to the potential resistance at 5200 level. The deviation to its 28-week exponential moving average has also grown to 9.5%. The rally has been very strong as the momentum indicator stayed at the extreme highs for weeks. We don't know how long the rally will last but historical trends suggest that the index will eventually return to its trendline so enjoy the rally while you can but be aware of the potential risk and trade accordingly.

The weekly chart of the S&P 500 index

Fund Rankings Update, 2/23/2024

Stocks surged ahead on the back of the strong earning reports from the AI chipmaker, NVIDIA. On the economic data front, the initial jobless claims came in below expectation and S&P Global's purchasing managers’ indexes (PMIs) rose respectively to 51.5, the highest in 17 months. The tight labor market and the strength of the economy have prompted the FED to take a wait-and-see stance in cutting interest rates. For the week, the S&P 500 index advanced 1.66% to 5088. The Dow Jones Industrial Average increased 1.3%, and the Nasdaq went up 1.4%.

The S&P 500 index continued to rally higher after taking a short pause last week. The deviation to its 28-week exponential moving average has grown back to 9.2%. As the index continues to make new highs, it is difficult to estimate where the next resistance level will be. Applying Fibonacci retracement suggests a potential resistance level at 5164. However, uncertainty remains in the market's future trajectory.

The weekly chart of the S&P 500 index