12/27/12
It was another very light volume, holiday trading atmosphere yesterday as the market continues to defy the historically strong seasonality in lieu of the financial obstacles. The Dow lost 24-points.
[TABLE="width: 88%, align: center"]
[TR]
[TD]
[/TD]
[TD="align: center"]Daily TSP Funds Return[TABLE="width: 150"]
[TR]
[TD]G-Fund:[/TD]
[TD="align: right"]0.0078%[/TD]
[/TR]
[TR]
[TD]F-fund:[/TD]
[TD="align: right"]0.06%[/TD]
[/TR]
[TR]
[TD]C-fund:[/TD]
[TD="align: right"]-0.48%[/TD]
[/TR]
[TR]
[TD]S-fund:[/TD]
[TD="align: right"]-0.72%[/TD]
[/TR]
[TR]
[TD]I-fund:[/TD]
[TD="align: right"]0.25%[/TD]
[/TR]
[/TABLE]
[TABLE="width: 80%, align: center"]
[TR]
[TD="align: right"]More returns [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
We're seeing some cracks in the bullish case, but the S&P 500 is still trading above the 50-day EMA, and that's a good thing. The fact that this is very light holiday trading makes me a little less concerned with the action, but we know this is supposed to be a good week for stocks and that means some folks are happy to be selling here above the 50-day EMA. Let's hope it is the dumb money doing the selling, and not the smart.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The Nasdaq 100 is again testing the lower end of its recent trading channel, and also trying to hang onto the 200-day EMA.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The fiscal cliff and the coming capital gains increase seem to be having their affect on the normally strong trading season. Not that this year's seasonality seems to matter, but today is day +2 after the holiday...
Chart provided courtesy of www.sentimentrader.com
Many times pre-holiday trading action gets reversed after the holiday, and I would consider this whole week, and into Monday, holiday trading. The difference this year is when we come back from the New Year holiday, the country could be falling over the cliff.
The only reason I think that there is not more selling is because many traders know that if a deal is reached they could miss a possible big move higher. This is certainly a tough market to figure out.
Administrative Note: It's that time of year again. We will be rolling over the 2012 AutoTracker accounts into 2013 so if you don't already have an account on the AutoTracker and wish to be on it in 2013, now would be a good time to get started. You do need to have a Forum account to get on the AutoTracker. For more information on how to get started, click here. (If you have an active AutoTracker account, you do not need to join again.)
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.
It was another very light volume, holiday trading atmosphere yesterday as the market continues to defy the historically strong seasonality in lieu of the financial obstacles. The Dow lost 24-points.
[TABLE="width: 88%, align: center"]
[TR]
[TD]
[TD="align: center"]Daily TSP Funds Return[TABLE="width: 150"]
[TR]
[TD]G-Fund:[/TD]
[TD="align: right"]0.0078%[/TD]
[/TR]
[TR]
[TD]F-fund:[/TD]
[TD="align: right"]0.06%[/TD]
[/TR]
[TR]
[TD]C-fund:[/TD]
[TD="align: right"]-0.48%[/TD]
[/TR]
[TR]
[TD]S-fund:[/TD]
[TD="align: right"]-0.72%[/TD]
[/TR]
[TR]
[TD]I-fund:[/TD]
[TD="align: right"]0.25%[/TD]
[/TR]
[/TABLE]
[TABLE="width: 80%, align: center"]
[TR]
[TD="align: right"]More returns [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
We're seeing some cracks in the bullish case, but the S&P 500 is still trading above the 50-day EMA, and that's a good thing. The fact that this is very light holiday trading makes me a little less concerned with the action, but we know this is supposed to be a good week for stocks and that means some folks are happy to be selling here above the 50-day EMA. Let's hope it is the dumb money doing the selling, and not the smart.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The Nasdaq 100 is again testing the lower end of its recent trading channel, and also trying to hang onto the 200-day EMA.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The fiscal cliff and the coming capital gains increase seem to be having their affect on the normally strong trading season. Not that this year's seasonality seems to matter, but today is day +2 after the holiday...
Chart provided courtesy of www.sentimentrader.com
Many times pre-holiday trading action gets reversed after the holiday, and I would consider this whole week, and into Monday, holiday trading. The difference this year is when we come back from the New Year holiday, the country could be falling over the cliff.
The only reason I think that there is not more selling is because many traders know that if a deal is reached they could miss a possible big move higher. This is certainly a tough market to figure out.
Administrative Note: It's that time of year again. We will be rolling over the 2012 AutoTracker accounts into 2013 so if you don't already have an account on the AutoTracker and wish to be on it in 2013, now would be a good time to get started. You do need to have a Forum account to get on the AutoTracker. For more information on how to get started, click here. (If you have an active AutoTracker account, you do not need to join again.)
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.
