04/09/13
Day 14 of the alternating trend of up / down days was not a disappointment. We were due for an up day, and we got one. The Dow gained 48-points after it started the day deep in the red so buyers are still willing to buy the dips, but tomorrow is day 15 and that could mean red.
[TABLE="width: 88%, align: center"]
[TR]
[TD]
[/TD]
[TD="align: center"]Daily TSP Funds Return[TABLE="width: 155"]
[TR]
[TD]G-Fund:[/TD]
[TD="align: right"]+0.0128%[/TD]
[/TR]
[TR]
[TD]F-fund:[/TD]
[TD="align: right"]-0.12%[/TD]
[/TR]
[TR]
[TD]C-fund:[/TD]
[TD="align: right"]+0.67%[/TD]
[/TR]
[TR]
[TD]S-fund:[/TD]
[TD="align: right"]+0.90%[/TD]
[/TR]
[TR]
[TD]I-fund:[/TD]
[TD="align: right"]+0.46%[/TD]
[/TR]
[/TABLE]
[TABLE="width: 80%, align: center"]
[TR]
[TD="align: right"]More returns [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
Friday's positive reversal day did set up a successful follow-through day - right on queue with the alternating trend. Volume was light so there wasn't a heck of a lot of buying going on, but the rising trendline on the S&P 500 is back acting as support for now.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The short-term tells one story while the longer-term chart shows there is a lot of room to below should the market decide to finally take a break. The old "Sell in May and go away" axiom was more of a sell in April and go away last year and with the recent highs taking place on April 1st, will we see the same kind of result this year?
Chart provided courtesy of www.sentimentrader.com
The one thing we have been talking about is the weakness in commodities and how they have a tendency, like other market index leaders, to peak before the stock market.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
That has certainly been the case this year as the above commodity ETF started to pullback in mid-February. The chart has really deteriorated since then and the recent bounce hasn't been all that impressive. Does that mean the stock market rebound will fall flat as well?
The last chart I have to show is the Banking Index, which is near an important juncture.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The apex is narrowing between support and resistance, which both look pretty strong look strong and obviously something will have to give. Which way is the question? The resistance will be tested today.
Will day 15 of the alternating up / down trend continue and give us the scheduled down day in the S&P 500 today, or can the rally off of Friday's low and reversal day continue and break that trend?
Thanks for reading! We'll see you back here tomorrow.
Tom Crowley
Day 14 of the alternating trend of up / down days was not a disappointment. We were due for an up day, and we got one. The Dow gained 48-points after it started the day deep in the red so buyers are still willing to buy the dips, but tomorrow is day 15 and that could mean red.
[TABLE="width: 88%, align: center"]
[TR]
[TD]
[TD="align: center"]Daily TSP Funds Return[TABLE="width: 155"]
[TR]
[TD]G-Fund:[/TD]
[TD="align: right"]+0.0128%[/TD]
[/TR]
[TR]
[TD]F-fund:[/TD]
[TD="align: right"]-0.12%[/TD]
[/TR]
[TR]
[TD]C-fund:[/TD]
[TD="align: right"]+0.67%[/TD]
[/TR]
[TR]
[TD]S-fund:[/TD]
[TD="align: right"]+0.90%[/TD]
[/TR]
[TR]
[TD]I-fund:[/TD]
[TD="align: right"]+0.46%[/TD]
[/TR]
[/TABLE]
[TABLE="width: 80%, align: center"]
[TR]
[TD="align: right"]More returns [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
Friday's positive reversal day did set up a successful follow-through day - right on queue with the alternating trend. Volume was light so there wasn't a heck of a lot of buying going on, but the rising trendline on the S&P 500 is back acting as support for now.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The short-term tells one story while the longer-term chart shows there is a lot of room to below should the market decide to finally take a break. The old "Sell in May and go away" axiom was more of a sell in April and go away last year and with the recent highs taking place on April 1st, will we see the same kind of result this year?
Chart provided courtesy of www.sentimentrader.com
The one thing we have been talking about is the weakness in commodities and how they have a tendency, like other market index leaders, to peak before the stock market.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
That has certainly been the case this year as the above commodity ETF started to pullback in mid-February. The chart has really deteriorated since then and the recent bounce hasn't been all that impressive. Does that mean the stock market rebound will fall flat as well?
The last chart I have to show is the Banking Index, which is near an important juncture.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The apex is narrowing between support and resistance, which both look pretty strong look strong and obviously something will have to give. Which way is the question? The resistance will be tested today.
Will day 15 of the alternating up / down trend continue and give us the scheduled down day in the S&P 500 today, or can the rally off of Friday's low and reversal day continue and break that trend?
Thanks for reading! We'll see you back here tomorrow.
Tom Crowley
