Stocks dipped yesterday on news of signs of an economic slowdown in China. Whatever the the headlines, stocks were due for a pullback after being up 8 of the prior 9 days. The Dow lost 69-points.
For the TSP, the C-fund fell 0.30% yesterday, the S-fund dropped 0.81%, the I-fund lost 1.08%, and the F-fund (bonds) added 0.01%.
The decline yesterday saw the S&P 500 find support at the old (middle) rising support line. So far nothing serious.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The Transportation Index lost over 1% yesterday - falling from the overhead resistance, but nearing the rising support.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
It was interesting that the Transports dropped despite a sharp decline in the price of oil yesterday, after some comments out of Saudi Arabia that they are ready to meet any supply short-fall.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
It started rebounding a little in after hours trading yesterday, but the keys are the 20-day EMA and the bull flag.
Thanks for reading! We'll see you back here tomorrow.
Tom Crowley
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