Stocks were down yesterday, but it may be a question of whether you see the cup as being half empty or half full. After a triple digit loss in the Dow during early trading, we saw a decent comeback that could be considered a positive reversal day.
I'm out of town this week spending time with my home town friends and family - first time in six years. I want to do more visiting than market analysis this week so I'm hoping for a quiet week for stocks.
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The SPY (S&P 500 / C-fund) bounced off of the 20-day EMA again as this index continues to be resilient and avoids any serious downside pressure. The PMO indicator is not in a good position, but that hasn't really hurt the pricing yet. The fact that we haven't seen a new high since early July may be a telling crack.
Chart provided courtesy of www.stockcharts.com, analysis by TSP Talk
The Wilshire 4500 (S-fund) closed off the lows but is still stuck in a downtrend lagging the rest of the market. This is usually a bad sign, although we saw this earlier this year and it was able to bounce back. Can it do it again?
Chart provided courtesy of www.stockcharts.com, analysis by TSP Talk
The AGG (F-fund) attempted a breakout above the trading range, but couldn't hold on.
Chart provided courtesy of www.stockcharts.com, analysis by TSP Talk
Read more in today's TSP Talk Plus Report. We post more charts, indicators and analysis, plus discuss the Sentiment Survey Results and its TSP and ETF Systems. 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 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.
I'm out of town this week spending time with my home town friends and family - first time in six years. I want to do more visiting than market analysis this week so I'm hoping for a quiet week for stocks.
[TABLE="align: center"]
[TR]
[TD="align: center"]
[TD="align: center"] Daily TSP Funds Return
[TR]
[TD="align: right"] [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
The SPY (S&P 500 / C-fund) bounced off of the 20-day EMA again as this index continues to be resilient and avoids any serious downside pressure. The PMO indicator is not in a good position, but that hasn't really hurt the pricing yet. The fact that we haven't seen a new high since early July may be a telling crack.
Chart provided courtesy of www.stockcharts.com, analysis by TSP Talk
The Wilshire 4500 (S-fund) closed off the lows but is still stuck in a downtrend lagging the rest of the market. This is usually a bad sign, although we saw this earlier this year and it was able to bounce back. Can it do it again?
Chart provided courtesy of www.stockcharts.com, analysis by TSP Talk
The AGG (F-fund) attempted a breakout above the trading range, but couldn't hold on.
Chart provided courtesy of www.stockcharts.com, analysis by TSP Talk
Read more in today's TSP Talk Plus Report. We post more charts, indicators and analysis, plus discuss the Sentiment Survey Results and its TSP and ETF Systems. 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 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.
