04/23/13
Stocks started the morning in the red but this resilient, unloved market continues to perform well, just when we think it is about to break down. The Dow gained 20-points but once again the broader indices performed much better.
[TABLE="width: 88%, align: center"]
[TR]
[TD]
[/TD]
[TD="align: center"]Daily TSP Funds Return[TABLE="width: 152"]
[TR]
[TD]G-Fund:[/TD]
[TD="align: right"]+0.0121%[/TD]
[/TR]
[TR]
[TD]F-fund:[/TD]
[TD="align: right"]+0.05%[/TD]
[/TR]
[TR]
[TD]C-fund:[/TD]
[TD="align: right"]+0.47%[/TD]
[/TR]
[TR]
[TD]S-fund:[/TD]
[TD="align: right"]+0.30%[/TD]
[/TR]
[TR]
[TD]I-fund:[/TD]
[TD="align: right"]+0.22%[/TD]
[/TR]
[/TABLE]
[TABLE="width: 80%, align: center"]
[TR]
[TD="align: right"]More returns [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
The S&P 500 followed through on Friday's rally off the the 50-day EMA and is now testing the old support, which could now act as resistance.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
A longer-term view shows some additional support near 1550 - where the old resistance may now act as support.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
There are certainly some negatives out there such as the very light volume during the recent bounce, and a slew of potential bear flags on many of the indices, but as I have been saying, sentiment in survey after survey seems to indicate that investors are just too bearish to produce any major melt-down - since sentiment is a contrarian indicator. Am I bullish? No. Am I bearish? I was, but with so many bears out there, it's hard to believe we're all right.
There are a bunch of big name earnings reports due out this week including Apple (AAPL) after the bell today, so that could be a market mover. Expectations and the stock price have been low so a surprise to the upside seems reasonable. Sell the rumor, buy the news?
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.
Stocks started the morning in the red but this resilient, unloved market continues to perform well, just when we think it is about to break down. The Dow gained 20-points but once again the broader indices performed much better.
[TABLE="width: 88%, align: center"]
[TR]
[TD]
[TD="align: center"]Daily TSP Funds Return[TABLE="width: 152"]
[TR]
[TD]G-Fund:[/TD]
[TD="align: right"]+0.0121%[/TD]
[/TR]
[TR]
[TD]F-fund:[/TD]
[TD="align: right"]+0.05%[/TD]
[/TR]
[TR]
[TD]C-fund:[/TD]
[TD="align: right"]+0.47%[/TD]
[/TR]
[TR]
[TD]S-fund:[/TD]
[TD="align: right"]+0.30%[/TD]
[/TR]
[TR]
[TD]I-fund:[/TD]
[TD="align: right"]+0.22%[/TD]
[/TR]
[/TABLE]
[TABLE="width: 80%, align: center"]
[TR]
[TD="align: right"]More returns [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
The S&P 500 followed through on Friday's rally off the the 50-day EMA and is now testing the old support, which could now act as resistance.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
A longer-term view shows some additional support near 1550 - where the old resistance may now act as support.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
There are certainly some negatives out there such as the very light volume during the recent bounce, and a slew of potential bear flags on many of the indices, but as I have been saying, sentiment in survey after survey seems to indicate that investors are just too bearish to produce any major melt-down - since sentiment is a contrarian indicator. Am I bullish? No. Am I bearish? I was, but with so many bears out there, it's hard to believe we're all right.
There are a bunch of big name earnings reports due out this week including Apple (AAPL) after the bell today, so that could be a market mover. Expectations and the stock price have been low so a surprise to the upside seems reasonable. Sell the rumor, buy the news?
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.
