8/29/12
Stocks again had a hard time finding direction yesterday as we saw several swings above and below the break-even mark before the Dow closed down 21-points. The other indices were mixed.
[TABLE="align: center"]
[TR]
[TD]
[/TD]
[TD="align: center"] Daily TSP Funds Return
[TABLE="width: 163"]
[TR]
[TD="align: right"] G-Fund:
[/TD]
[TD="align: right"] 0.0036%
[/TD]
[/TR]
[TR]
[TD="align: right"] F-fund:
[/TD]
[TD="align: right"] 0.06%
[/TD]
[/TR]
[TR]
[TD="align: right"] C-fund:
[/TD]
[TD="align: right"] -0.07%
[/TD]
[/TR]
[TR]
[TD="align: right"] S-fund:
[/TD]
[TD="align: right"] 0.38%
[/TD]
[/TR]
[TR]
[TD="align: right"] I-fund:
[/TD]
[TD="align: right"] -0.36%
[/TD]
[/TR]
[/TABLE]
[TABLE="align: center"]
[TR]
[TD="align: right"]
[/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
The S&P 500 did little to clarify direction. It remains in a tight range between the support of the 20-day EMA and the overhead resistance of the rising wedge and the double top.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The small caps of the Russell 2000 did better picking up a 0.5% gain and looks to be ready to test the double top resistance again. Small caps are one of the market leaders and strength here is a positive, but we have also seen the real market leader, the Dow Transports, lag so this is a mixed picture.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The NYSE is neither overbought nor oversold at this time, which makes sense as this market has been drifting sideways in a tight range this entire month. Resistance is just above on almost all of the major stock index charts so the downside may be the path of least resistance, but the market has surprised us before.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The yield on the 10-year Treasury Note continued to pullback from recent highs near 1.85%, but yesterday it fell back below its 50-day EMA. This helped bonds and the F-fund to a positive day since yields move counter to bond prices.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
As the Republican convention gets started and the Democratic on deck, we could see some interesting emotional swings in the next couple of weeks. We also have the updated GDP report this morning and next week is another jobs report so we could see some movement, especially after the holiday.
Thanks for reading! We'll see you back here tomorrow.
Tom Crowley
Posted daily at www.tsptalk.com/comments.html
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.
Stocks again had a hard time finding direction yesterday as we saw several swings above and below the break-even mark before the Dow closed down 21-points. The other indices were mixed.
[TABLE="align: center"]
[TR]
[TD]
[TD="align: center"] Daily TSP Funds Return
[TABLE="width: 163"]
[TR]
[TD="align: right"] G-Fund:
[/TD]
[TD="align: right"] 0.0036%
[/TD]
[/TR]
[TR]
[TD="align: right"] F-fund:
[/TD]
[TD="align: right"] 0.06%
[/TD]
[/TR]
[TR]
[TD="align: right"] C-fund:
[/TD]
[TD="align: right"] -0.07%
[/TD]
[/TR]
[TR]
[TD="align: right"] S-fund:
[/TD]
[TD="align: right"] 0.38%
[/TD]
[/TR]
[TR]
[TD="align: right"] I-fund:
[/TD]
[TD="align: right"] -0.36%
[/TD]
[/TR]
[/TABLE]
[TABLE="align: center"]
[TR]
[TD="align: right"]
[/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
The S&P 500 did little to clarify direction. It remains in a tight range between the support of the 20-day EMA and the overhead resistance of the rising wedge and the double top.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The small caps of the Russell 2000 did better picking up a 0.5% gain and looks to be ready to test the double top resistance again. Small caps are one of the market leaders and strength here is a positive, but we have also seen the real market leader, the Dow Transports, lag so this is a mixed picture.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The NYSE is neither overbought nor oversold at this time, which makes sense as this market has been drifting sideways in a tight range this entire month. Resistance is just above on almost all of the major stock index charts so the downside may be the path of least resistance, but the market has surprised us before.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The yield on the 10-year Treasury Note continued to pullback from recent highs near 1.85%, but yesterday it fell back below its 50-day EMA. This helped bonds and the F-fund to a positive day since yields move counter to bond prices.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
As the Republican convention gets started and the Democratic on deck, we could see some interesting emotional swings in the next couple of weeks. We also have the updated GDP report this morning and next week is another jobs report so we could see some movement, especially after the holiday.
Thanks for reading! We'll see you back here tomorrow.
Tom Crowley
Posted daily at www.tsptalk.com/comments.html
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.
