07/18/13
Stocks were flat to higher yesterday as the Dow danced above and below the break-even level a few times during the day, and a late move higher helped it close at +19. Small caps led the way.
[TABLE="width: 88%, align: center"]
[TR]
[TD="width: 305"]
[/TD]
[TD="align: center"] Daily TSP Funds Return[TABLE="width: 154"]
[TR]
[TD="align: right"] G-Fund:[/TD]
[TD="align: right"] +0.0057%[/TD]
[/TR]
[TR]
[TD="align: right"] F-fund:[/TD]
[TD="align: right"] +0.20%[/TD]
[/TR]
[TR]
[TD="align: right"] C-fund:[/TD]
[TD="align: right"] +0.29%[/TD]
[/TR]
[TR]
[TD="align: right"] S-fund:[/TD]
[TD="align: right"] +0.45%[/TD]
[/TR]
[TR]
[TD="align: right"] I-fund:[/TD]
[TD="align: right"] +0.07%[/TD]
[/TR]
[/TABLE]
[TABLE="width: 80%, align: center"]
[TR]
[TD="align: right"] [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
Ben Bernanke didn't really have anything new to say yesterday as he measured his words carefully. Basically, employment data needs to improve before they will make any major changes to their fiscal policy. So the bond buying will continue.
The S&P 500 was up but continues to push again the May high. The story remains the same: Flat tops tend to precede pullbacks, but this market has the Fed at its back and has defied conventional wisdom for months now.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The Transportation Index is still testing the May high, but there is a flat top that has held for 7 days now.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Bond yields on the longer-term Treasury Bond pulled back to test the rising support line, falling just below it to hit the 20-day EMA before rebounding. Either we will see a break in the 10+ week rising yield trend and the F-fund goes up, or the yields resume their rally and the F-fund suffers.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Some mixed technology earnings yesterday put some pressure on the futures after the close as ebay and Intel disappointed, but IBM beat estimates.
Not much more to say. The trend is up but flat tops are showing signs of fatigue for stocks.
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.
Stocks were flat to higher yesterday as the Dow danced above and below the break-even level a few times during the day, and a late move higher helped it close at +19. Small caps led the way.
[TABLE="width: 88%, align: center"]
[TR]
[TD="width: 305"]
[TD="align: center"] Daily TSP Funds Return[TABLE="width: 154"]
[TR]
[TD="align: right"] G-Fund:[/TD]
[TD="align: right"] +0.0057%[/TD]
[/TR]
[TR]
[TD="align: right"] F-fund:[/TD]
[TD="align: right"] +0.20%[/TD]
[/TR]
[TR]
[TD="align: right"] C-fund:[/TD]
[TD="align: right"] +0.29%[/TD]
[/TR]
[TR]
[TD="align: right"] S-fund:[/TD]
[TD="align: right"] +0.45%[/TD]
[/TR]
[TR]
[TD="align: right"] I-fund:[/TD]
[TD="align: right"] +0.07%[/TD]
[/TR]
[/TABLE]
[TABLE="width: 80%, align: center"]
[TR]
[TD="align: right"] [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
Ben Bernanke didn't really have anything new to say yesterday as he measured his words carefully. Basically, employment data needs to improve before they will make any major changes to their fiscal policy. So the bond buying will continue.
The S&P 500 was up but continues to push again the May high. The story remains the same: Flat tops tend to precede pullbacks, but this market has the Fed at its back and has defied conventional wisdom for months now.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The Transportation Index is still testing the May high, but there is a flat top that has held for 7 days now.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Bond yields on the longer-term Treasury Bond pulled back to test the rising support line, falling just below it to hit the 20-day EMA before rebounding. Either we will see a break in the 10+ week rising yield trend and the F-fund goes up, or the yields resume their rally and the F-fund suffers.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Some mixed technology earnings yesterday put some pressure on the futures after the close as ebay and Intel disappointed, but IBM beat estimates.
Not much more to say. The trend is up but flat tops are showing signs of fatigue for stocks.
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.
