1/15/13
There was very little action on Wall Street yesterday as volume was light and the indices stayed mostly flat. The Dow gained 19-points on the day.
[TABLE="width: 88%, align: center"]
[TR]
[TD]
[/TD]
[TD="align: center"]Daily TSP Funds Return[TABLE="width: 151"]
[TR]
[TD]G-Fund:[/TD]
[TD="align: right"]0.0121%[/TD]
[/TR]
[TR]
[TD]F-fund:[/TD]
[TD="align: right"]0.06%[/TD]
[/TR]
[TR]
[TD]C-fund:[/TD]
[TD="align: right"]-0.09%[/TD]
[/TR]
[TR]
[TD]S-fund:[/TD]
[TD="align: right"]0.04%[/TD]
[/TR]
[TR]
[TD]I-fund:[/TD]
[TD="align: right"]-0.16%[/TD]
[/TR]
[/TABLE]
[TABLE="width: 80%, align: center"]
[TR]
[TD="align: right"]More returns [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
Whenever an index starts in the bottom left hand corner on a chart, and ends in the upper right hand corner, things are pretty good and we shouldn't fight it. But the S&P 500 is still negotiating the overhead resistance from the September high and that is something that could cause a short-term pause, but probably not for long.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
There is a 3-day flat top (blue line) formed on the chart, and flat tops can precede pullbacks, but this flag-like formation (red) is bullish and still reminds me of the start in January 1987.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Again, 1987 this was the last time capital gains rates were raised which caused selling in December of 1986, and in turn investors had to buy back in January.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The Transportation Index is making new highs daily and also looks a lot like that January 1987 chart.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Today is trading sat #10 in January and that is right in the middle of a positive patch historically. There are a few bumps on the seasonality chart coming up, but the end of January tends to be quite positive so it may not be worth trying to avoid the weakness - at least based on seasonality. February will be another story.
Chart provided courtesy of www.sentimentrader.com
As they say, don't short (bet against) a dull market, and the market has been rather dull since the big 308-point rally on January 2. Overhead resistance may try to stop the party, but I think the upside momentum can get the indices through that resistance. If the S&P 500 starts to flirt with 1500, just 30-points or 2% away, I may start thinking more about locking in some gains and wait for a dip.
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.
There was very little action on Wall Street yesterday as volume was light and the indices stayed mostly flat. The Dow gained 19-points on the day.
[TABLE="width: 88%, align: center"]
[TR]
[TD]
[TD="align: center"]Daily TSP Funds Return[TABLE="width: 151"]
[TR]
[TD]G-Fund:[/TD]
[TD="align: right"]0.0121%[/TD]
[/TR]
[TR]
[TD]F-fund:[/TD]
[TD="align: right"]0.06%[/TD]
[/TR]
[TR]
[TD]C-fund:[/TD]
[TD="align: right"]-0.09%[/TD]
[/TR]
[TR]
[TD]S-fund:[/TD]
[TD="align: right"]0.04%[/TD]
[/TR]
[TR]
[TD]I-fund:[/TD]
[TD="align: right"]-0.16%[/TD]
[/TR]
[/TABLE]
[TABLE="width: 80%, align: center"]
[TR]
[TD="align: right"]More returns [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
Whenever an index starts in the bottom left hand corner on a chart, and ends in the upper right hand corner, things are pretty good and we shouldn't fight it. But the S&P 500 is still negotiating the overhead resistance from the September high and that is something that could cause a short-term pause, but probably not for long.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
There is a 3-day flat top (blue line) formed on the chart, and flat tops can precede pullbacks, but this flag-like formation (red) is bullish and still reminds me of the start in January 1987.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Again, 1987 this was the last time capital gains rates were raised which caused selling in December of 1986, and in turn investors had to buy back in January.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The Transportation Index is making new highs daily and also looks a lot like that January 1987 chart.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Today is trading sat #10 in January and that is right in the middle of a positive patch historically. There are a few bumps on the seasonality chart coming up, but the end of January tends to be quite positive so it may not be worth trying to avoid the weakness - at least based on seasonality. February will be another story.
Chart provided courtesy of www.sentimentrader.com
As they say, don't short (bet against) a dull market, and the market has been rather dull since the big 308-point rally on January 2. Overhead resistance may try to stop the party, but I think the upside momentum can get the indices through that resistance. If the S&P 500 starts to flirt with 1500, just 30-points or 2% away, I may start thinking more about locking in some gains and wait for a dip.
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.
