The Dow lost 7-points yesterday in one of the more duller trading days we've had this month. Perhaps no one wanted to do much in front of today's jobs report, which is over two-weeks later than usual because of the partial government shutdown.
The TSP stock funds were mixed but mostly flat line.
[TABLE="width: 80%, align: center"]
[TR]
[TD="width: 310"]
[TD="align: center"] Daily TSP Funds Return[TABLE="width: 175"]
[TR]
[TD="align: right"] G-Fund:[/TD]
[TD="align: right"] +0.0190%[/TD]
[/TR]
[TR]
[TD="align: right"] F-fund:[/TD]
[TD="align: right"] -0.07%[/TD]
[/TR]
[TR]
[TD="align: right"] C-fund:[/TD]
[TD="align: right"] +0.01%[/TD]
[/TR]
[TR]
[TD="align: right"] S-fund:[/TD]
[TD="align: right"] -0.11%[/TD]
[/TR]
[TR]
[TD="align: right"] I-fund:[/TD]
[TD="align: right"] +0.21%[/TD]
[/TR]
[/TABLE]
[TABLE="width: 69%, align: center"]
[TR]
[TD="align: right"] [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
The song remains the same. The S&P 500 (SPY) made another new high, but it is right at some stiff overhead resistance.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The Dow Transportation Index led the way with a 0.4% gain but it is also up against a 5-month resistance line.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The Nasdaq was up slightly and has remained above its resistance line, which it broke last week. In doing so it also created a new open gap, and like we talked about yesterday, could be an exhaustion gap. Since gaps tend to get filled, we're looking for a least a small pullback here to fill that gap near 3860. The gap down near 3700 is another story, but almost certainly it will be filled one day.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Bonds were down modestly yesterday, and like stocks, may be looking to fill in those recently open gaps caused by the rally after the debt deal was reached. These are bullish formations, but the gaps give bonds some short-term issues.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The September jobs report will be released today (Tuesday). Estimates are looking for a gain of 183,000 jobs and an unemployment rate of 7.3%.
Update: Jobs Report Results: 148,000 created and the unemployment rate dropped to 7.2%. Stocks seem to like this report since it puts more pressure on the Fed to continue their bond buying.
That's it. A slow day makes for a brief commentary. Enjoy it while you can.
In today's TSP Talk Plus report we go over the overbought / oversold indicator and a couple of short and intermediate term indicators.
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Thanks for reading! We'll see you back here tomorrow.
Tom Crowley
Posted daily at TSP Talk Market Commentary
The legal stuff: This information is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this data. Do not buy, sell or trade the funds mentioned herein based on this information. We may trade these funds differently than discussed above. We use additional methods and strategies to determine fund positions.
