Stocks were slightly higher Monday but relatively flat on Monday as the Dow gained 22-points, the S&P gained 0.1%, and the small caps were down very slightly.
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With the Fed behind us, earnings season completed, and two weeks before the next jobs report, the market could quiet down from here, but the main catalyst could be oil again and it is in the process of testing the 200-day EMA so there is some reason for caution.
This will be a short week as this Friday is Good Friday and a market holiday and the TSP will be closed. There will be no reports and the TSP will not process transactions.
The SPY (S&P 500 / C-Fund) remains in a rising trading channel with a very much improved technical picture, although on the overbought side.
The DWCPF (Dow Completion Index / Small Caps) has filled an open gap and the 200-day EMA is the current test for this extended index.
The EFA (EAFE Index / I-fund) is in a rising channel and about a point away from some possible still resistance.
The price of oil hit the 200-day EMA and now all eyes are on it to see what it can do next. It is certainly extended after rallying for nearly 6-weeks, and this is the first time it has touched the 200-day EMA since mid-2014.
The AGG (Bonds / F-fund) did pull back, as we talked about on Monday, and will likely test the top of the pennant before resuming a rally. Although, sometimes these formation breakout on one side, fail, then breakdown on the other side, so that 109.75 area looks to be important.
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.
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With the Fed behind us, earnings season completed, and two weeks before the next jobs report, the market could quiet down from here, but the main catalyst could be oil again and it is in the process of testing the 200-day EMA so there is some reason for caution.
After stocks were down the entire year we started see some green popping up in some of the major indices, and with the end of March being a struggle for stocks historically (the chart below is going back 30 years) it would seem reasonable that we could see some profit taking by money managers this week. Although the bulls may not be ready to give up just yet. Watch the price of oil as. That may be the only day to day catalyst.
This will be a short week as this Friday is Good Friday and a market holiday and the TSP will be closed. There will be no reports and the TSP will not process transactions.
The SPY (S&P 500 / C-Fund) remains in a rising trading channel with a very much improved technical picture, although on the overbought side.
The DWCPF (Dow Completion Index / Small Caps) has filled an open gap and the 200-day EMA is the current test for this extended index.
The EFA (EAFE Index / I-fund) is in a rising channel and about a point away from some possible still resistance.
The price of oil hit the 200-day EMA and now all eyes are on it to see what it can do next. It is certainly extended after rallying for nearly 6-weeks, and this is the first time it has touched the 200-day EMA since mid-2014.
The AGG (Bonds / F-fund) did pull back, as we talked about on Monday, and will likely test the top of the pennant before resuming a rally. Although, sometimes these formation breakout on one side, fail, then breakdown on the other side, so that 109.75 area looks to be important.
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.
