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. 

Fund Rankings Update, 5/12/2017

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 BMCAX, Buy TGVAX

Boosted by Apple Computer, technology laden NASDAQ composite index outperformed other major indices for the fourth week. For the week, S&P 500 index closed at 2390, down 0.35%, Dow Jones Industrial Average lost 0.53% while NASDAQ composite index increased 0.34%.

Weekly chart of S&P 500 index

2400 appears to be a very strong resistance level for S&P 500 index. For the third week, the index has failed to close above 2400.  As the momentum indicator is still heading upward, we will give it another week to see if the index can continue the run. 

Fund Rankings Update, 5/5/2017

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.

Federal Reserve's decision to keep interest unchanged on Wednesday and better than expected job report kept stocks on the positive note. Technology laden NASDAQ composite index continued to outperform other major indices for the third week. For the week, S&P 500 index closed at 23994, up 0.63%, Dow Jones Industrial Average gained 0.32% and NASDAQ composite index increased 0.88%.

Weekly chart of S&P 500 index

S&P 500 tried and failed to break the 2400 resistance for the second week, but its momentum indicator has turned around and heading upwards again. Daily chart of S&P 500 index also showed that the index has been trading between 2380 and 2400 for two weeks. It is likely that we will see a break out next week. 

From SELECT and sETF ranking tables, we also observed strong momentum in technology sector and healthcare sector. The related sector funds have moved up in the rankings tables for the past six weeks, and have pushed NASDAQ composite index to all time high. With technology sector leading the way, it is likely the major indices will follow suit,  and that is consistent with our outlook earlier.

Fund Rankings Update, 4/28/2017

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 SSPP model portfolio: Sell FDGRX, Buy FEMKX

Stocks rallied from start of the week due to outcome from French election and strong corporate earning reports. Technology laden NASDAQ composite index outperformed other major indices exceeding the 6000 threshold for the first time in 17 years. For the week, S&P 500 index closed at 2384, up 1.51%, Dow Jones Industrial Average gained 1.91% and NASDAQ composite index increased 2.322%.

Weekly chart of S&P 500 index

S&P 500 index bounced off strongly from the short term support of 2325 but failed to broke above the psychological resistance at 2400 as shown in the weekly chart. We will see if the index will break above the 2400 resistance to resume it up-trend. Momentum indicator of S&P 500 appears to be sloping down even though it perked up a bit this week. Our flat consolidation outlook remains the same until the index breaks above 2400 level. 

Fund Rankings Update, 4/21/2017

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 lower as earning reports from Goldman Sachs' and Johnson & Johnson disappointed investors during the week. However, markets got a strong boost from Treasury Secretary Mnuchin on Thursday that the tax reform plan will be ready next week.  For the week, S&P 500 index closed at 2348, up 0.85%, Dow Jones Industrial Average gained 0.46% while the technology laden NASDAQ composite index outperformed other indices and increased 1.82%.

Weekly chart of S&P 500 index

Another week that S&P 500 index survived the short term support at 2325. The weekly highs of the past six weeks have been sloping down while the weekly lows have been above the short term support at 2325. Our market outlook stays the same as last week that the overall up-trend is still intact and the S&P 500 index is waiting for 28 week moving average to catch up.  

Fund Rankings Update, 4/14/2017

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.

Geopolitical tension on North Korea and US bombing of Afghanistan pulled the market down in this holiday shorten trading week.  For the week, S&P 500 index closed at 2328, down 1.13%, Dow Jones Industrial Average lost 0.98% and the technology laden NASDAQ composite index decreased 1.24%.

Weekly chart of S&P 500 index

S&P 500 index is touching its short term support of 2325 and waiting for 28 week moving average to catch up as we have discussed last week. Its momentum indicator is heading downward and below the overbought region. We think the consolidation will continue before the index testing the moving average. 

Fund Rankings Update, 4/7/2017

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 declined a bit this week as investors waiting for policy change from Trump administration. We saw a big reversal in action on Wednesday: Stocks started strong in the morning with DJIA went up more than 140 points, but a sell-off occurred after speaker of the house announcing that Republican is not ready for tax reform, which pulled stocks into negative territory and DJIA ended up 100 points lower than where it started.  For the week, S&P 500 index closed at 2355, down 0.3%, Dow Jones Industrial Average lost 0.03% and the technology laden NASDAQ composite index decreased 0.57%.

Weekly chart of S&P 500 index

Momentum indicator of S&P 500 has come down from extreme overbought area and still heading downward in the weekly chart. However, the decline has been small and the up-trend looks to be intact. We think this consolidation will be flat with the index waiting for 28 week moving average to catch up, similar to the consolidations in July, and October last year.