Despite the Dow gaining 23-points on Wednesday, it was mostly a down day for stocks yesterday, with the S&P 500 dropping 0.28% and small caps slipping about 0.6%, but all stocks came well off the morning lows as we saw reversals after the S&P gap was filled.
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A couple of technology company leaders were on Capitol Hill yesterday to talk about censorship, government regulations, etc., and that shook up tech stocks and the Nasdaq closed down over 1% on the day.
OK, let's take one more look at the August / September comparison, this one shows what happened if August closed near a 3 year high. It's similar to what we've been shown.... September tends to struggle, and this chart suggests that even the Sep. / Oct. combined returns may be below average.
Chart provided courtesy of www.sentimentrader.com
After the bell there was more political soap opera moments as the New York Times published an Op-Ed piece from a supposed Trump insider appointee that was rather scathing, so we'll see how stocks react to that today. As we've been saying, the market has been shrugging off most of this type of reporting, and it continues to be be trade talks that have been steering the ship lately.
The S&P 500 / C-fund was down again yesterday but it closed well off the lows. It remains near the top of that rising trading channel but so far it has not shown any real pull to move toward the lower end -- at least not yet. There's support near 2860 and if that doesn't hold, the 50-day EMA is below that at 2831.
A closer look at the S&P shows the open gap was filled yesterday, and we actually saw a bounce once it was filled.
The small caps (S-fund) were hit a bit harder but like most stocks, it did rally sharply off the lows and post a possible positive reversal day.
The Dow Transportation Index was the highlight of the day as it gained 0.59% and it is back testing the old highs again, although that 11,400 area may pose some resistance.
The EAFE (I-fund) was down but the I-fund price was due a positive adjustment after the -1.21% loss it was given on Tuesday.
A follow up from yesterday's commentary on the German DAX shows the lower low and breakdown, and the large open gap from April trying to get filled.
The AGG (bonds) was down again as it seems to have an appointment with the bottom of the wedge and 50-day EMA.
It's that time of year again... time for the annual Last Man Standing NFL Contest. It's free.
The signup deadline is 1PM ET this Sunday. More Information: Last Man Standing Contest
Last Man Standing 2018
Read more in today's TSP Talk Plus Report. We post more charts, indicators and analysis, plus discuss the allocations of the 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 www.tsptalk.com/comments.php
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="align: center"]
[TR]
[TD="align: center"] Daily TSP Funds Return
[TR]
[TD="align: right"][/TD]
[/TR]
[/TABLE]
[/TD]
[TD]
[/TD]
[TD="align: center"]
[/TR]
[/TABLE]
A couple of technology company leaders were on Capitol Hill yesterday to talk about censorship, government regulations, etc., and that shook up tech stocks and the Nasdaq closed down over 1% on the day.
OK, let's take one more look at the August / September comparison, this one shows what happened if August closed near a 3 year high. It's similar to what we've been shown.... September tends to struggle, and this chart suggests that even the Sep. / Oct. combined returns may be below average.
Chart provided courtesy of www.sentimentrader.com
After the bell there was more political soap opera moments as the New York Times published an Op-Ed piece from a supposed Trump insider appointee that was rather scathing, so we'll see how stocks react to that today. As we've been saying, the market has been shrugging off most of this type of reporting, and it continues to be be trade talks that have been steering the ship lately.
The S&P 500 / C-fund was down again yesterday but it closed well off the lows. It remains near the top of that rising trading channel but so far it has not shown any real pull to move toward the lower end -- at least not yet. There's support near 2860 and if that doesn't hold, the 50-day EMA is below that at 2831.
A closer look at the S&P shows the open gap was filled yesterday, and we actually saw a bounce once it was filled.
The small caps (S-fund) were hit a bit harder but like most stocks, it did rally sharply off the lows and post a possible positive reversal day.
The Dow Transportation Index was the highlight of the day as it gained 0.59% and it is back testing the old highs again, although that 11,400 area may pose some resistance.
The EAFE (I-fund) was down but the I-fund price was due a positive adjustment after the -1.21% loss it was given on Tuesday.
A follow up from yesterday's commentary on the German DAX shows the lower low and breakdown, and the large open gap from April trying to get filled.
The AGG (bonds) was down again as it seems to have an appointment with the bottom of the wedge and 50-day EMA.
It's that time of year again... time for the annual Last Man Standing NFL Contest. It's free.
The signup deadline is 1PM ET this Sunday. More Information: Last Man Standing Contest
Last Man Standing 2018
Read more in today's TSP Talk Plus Report. We post more charts, indicators and analysis, plus discuss the allocations of the 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 www.tsptalk.com/comments.php
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.
