Stocks were down on Friday as investors look toward the not so promising debt ceiling and continuing resolution negotiations. The Dow lost 185-points while the broader indices saw smaller losses percentage-wise.
[TABLE="width: 80%, align: center"]
[TR]
[TD="width: 310"]
[/TD]
[TD="align: center"] Daily TSP Funds Return[TABLE="width: 169"]
[TR]
[TD="align: right"] G-Fund:[/TD]
[TD="align: right"] +0.0063%[/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"] -0.72%[/TD]
[/TR]
[TR]
[TD="align: right"] S-fund:[/TD]
[TD="align: right"] -0.56%[/TD]
[/TR]
[TR]
[TD="align: right"] I-fund:[/TD]
[TD="align: right"] -0.43%[/TD]
[/TR]
[/TABLE]
[TABLE="width: 69%, align: center"]
[TR]
[TD="align: right"] [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
The S&P 500 (SPY) has pulled back to the the old high, and there are still two open gaps below that support line that may want to get filled.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The longer-term chart shows some overhead intermediate-term resistance being tested, and the pullback from it last week. Should that resistance hold, there is quite a bit of room on the downside so there are some short to intermediate-term concerns here. It could all go away if the S&P can breakout above the top of this red trading channel.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The yield on the 10-year Treasury tried to rebound from Wednesday's sharp move lower, but some early strength and late weakness in yields on Friday created a negative reversal day and a bear flag. Should the yields breakdown, look for the F-fund to do well.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
With the 10-year bond yields moving down, we saw some upside breakout in the price of 7 to 10 year bonds. It looks like a bull flag.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The debt ceilings, the continuing resolution, and Obamacare will be the headlines to watch as they will be the market movers heading into October.
In today's TSP Talk Plus report we'll take a look at several more charts and indicators including the dollar and what's it's doing to the I-fund. For more information on how to gain access and a list of the benefits of being a subscriber, please go to: www.tsptalk.com/plus.php
Thanks for reading! We'll see you 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.
[TABLE="width: 80%, align: center"]
[TR]
[TD="width: 310"]
[TD="align: center"] Daily TSP Funds Return[TABLE="width: 169"]
[TR]
[TD="align: right"] G-Fund:[/TD]
[TD="align: right"] +0.0063%[/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"] -0.72%[/TD]
[/TR]
[TR]
[TD="align: right"] S-fund:[/TD]
[TD="align: right"] -0.56%[/TD]
[/TR]
[TR]
[TD="align: right"] I-fund:[/TD]
[TD="align: right"] -0.43%[/TD]
[/TR]
[/TABLE]
[TABLE="width: 69%, align: center"]
[TR]
[TD="align: right"] [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
The S&P 500 (SPY) has pulled back to the the old high, and there are still two open gaps below that support line that may want to get filled.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The longer-term chart shows some overhead intermediate-term resistance being tested, and the pullback from it last week. Should that resistance hold, there is quite a bit of room on the downside so there are some short to intermediate-term concerns here. It could all go away if the S&P can breakout above the top of this red trading channel.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The yield on the 10-year Treasury tried to rebound from Wednesday's sharp move lower, but some early strength and late weakness in yields on Friday created a negative reversal day and a bear flag. Should the yields breakdown, look for the F-fund to do well.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
With the 10-year bond yields moving down, we saw some upside breakout in the price of 7 to 10 year bonds. It looks like a bull flag.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The debt ceilings, the continuing resolution, and Obamacare will be the headlines to watch as they will be the market movers heading into October.
In today's TSP Talk Plus report we'll take a look at several more charts and indicators including the dollar and what's it's doing to the I-fund. For more information on how to gain access and a list of the benefits of being a subscriber, please go to: www.tsptalk.com/plus.php
Thanks for reading! We'll see you 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.
