Tuesday was a snooze-fest as stocks traded in a very tight range, hardly straying from break-even. By the close the Dow had gained 14-points, the S&P added 1, and most of other the major stock indices traded up less than 0.2%, with only the Transportation Index being down - although bonds were down as well.
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The dollar gapped lower at the open but managed to crawl back to break-even and recaptured the 50-day EMA, which was taken out in early trading. That means the I-fund rallied early but pulled back by the close.
I am going to use the very quiet day to make this quick since my analysis hasn't changed from yesterday. With much of Wall Street on vacation this week, the action should remain quiet, barring any major headlines. As we've said, the market can get pushed around when trading volume is light and some kind of news event triggers a reaction, but that is not something that's predictable.
The S&P 500 / C-fund was flat and remains just above that rising resistance line that we have been watching. The pre-holiday action makes it tough to figure out what is going on here. Is the movement flat because of the light volume or have the bulls just taken a pause at these all-time highs?
The AGG (bonds) took a hit yesterday and broke below the short-term rising support line, but it remains above that old resistance line. Again, this could be a pre-holiday reversal from the rising trend, that may resume after the holiday, but of course stocks and bonds will be vulnerable to any meaningful headlines as trading volume dries up.
It's that time of year again... time for the annual Last Man Standing NFL Contest. It's free.
More Information: Last Man Standing Contest
http://www.tsptalk.com/mb/site-news-and-announcements/30639-last-man-standing-2018-a.html
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]
The dollar gapped lower at the open but managed to crawl back to break-even and recaptured the 50-day EMA, which was taken out in early trading. That means the I-fund rallied early but pulled back by the close.
I am going to use the very quiet day to make this quick since my analysis hasn't changed from yesterday. With much of Wall Street on vacation this week, the action should remain quiet, barring any major headlines. As we've said, the market can get pushed around when trading volume is light and some kind of news event triggers a reaction, but that is not something that's predictable.
The S&P 500 / C-fund was flat and remains just above that rising resistance line that we have been watching. The pre-holiday action makes it tough to figure out what is going on here. Is the movement flat because of the light volume or have the bulls just taken a pause at these all-time highs?
The AGG (bonds) took a hit yesterday and broke below the short-term rising support line, but it remains above that old resistance line. Again, this could be a pre-holiday reversal from the rising trend, that may resume after the holiday, but of course stocks and bonds will be vulnerable to any meaningful headlines as trading volume dries up.
It's that time of year again... time for the annual Last Man Standing NFL Contest. It's free.
More Information: Last Man Standing Contest
http://www.tsptalk.com/mb/site-news-and-announcements/30639-last-man-standing-2018-a.html
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.
