08/27/13
Stocks traded higher most of the day yesterday, but after John Kerry's speech on Syria and WMD's, and a headline from a Russian source saying: U.S. to take military action (or something to that effect) the light volume trading day enabled sellers to easily push the indices down quickly. The Dow lost 64-points on the day.
[TABLE="width: 88%, align: center"]
[TR]
[TD="width: 305"]
[/TD]
[TD="align: center"] Daily TSP Funds Return[TABLE="width: 162"]
[TR]
[TD="align: right"] G-Fund:[/TD]
[TD="align: right"] +0.0176%[/TD]
[/TR]
[TR]
[TD="align: right"] F-fund:[/TD]
[TD="align: right"] +0.17%[/TD]
[/TR]
[TR]
[TD="align: right"] C-fund:[/TD]
[TD="align: right"] -0.40%[/TD]
[/TR]
[TR]
[TD="align: right"] S-fund:[/TD]
[TD="align: right"] +0.07%[/TD]
[/TR]
[TR]
[TD="align: right"] I-fund:[/TD]
[TD="align: right"] -0.16%[/TD]
[/TR]
[/TABLE]
[TABLE="width: 69%, align: center"]
[TR]
[TD="align: right"] [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
The S&P 500 (SPY) moved above the 20-day EMA in early trading, but closed back below it. The bottom of the open gap acted as resistance, and with trading volume being very light this week, any kind of push by the bulls could still fill that gap - however short-lived it might be. On the other hand, any more negative news and this relief rally could be over.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The Nasdaq 100 (QQQ) actually made a new intraday high yesterday before backing off and resting on that now filled gap. The negative reversal day would have us believe that the QQQ is heading back into the gap, but again, the light volume means the indices can be pushed around.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The Russell 2000 just about filled its open gap, and its close enough to call it a fill. The index closed below the new short-term descending line.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
This week is the epitome of the term, summer doldrums. Volume is light and seasonality is below average. We have some mixed signals in the indicators and yesterdays weak close made the indices a little less attractive. It doesn't seem like a good time to be overly aggressive.
In today's TSP Talk Plus report we'll go over an interesting development in the put / call ratios, we'll compare the AAII Sentiment numbers to TSP Talk's, plus we'll go over a couple more charts. 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 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 traded higher most of the day yesterday, but after John Kerry's speech on Syria and WMD's, and a headline from a Russian source saying: U.S. to take military action (or something to that effect) the light volume trading day enabled sellers to easily push the indices down quickly. The Dow lost 64-points on the day.
[TABLE="width: 88%, align: center"]
[TR]
[TD="width: 305"]
[TD="align: center"] Daily TSP Funds Return[TABLE="width: 162"]
[TR]
[TD="align: right"] G-Fund:[/TD]
[TD="align: right"] +0.0176%[/TD]
[/TR]
[TR]
[TD="align: right"] F-fund:[/TD]
[TD="align: right"] +0.17%[/TD]
[/TR]
[TR]
[TD="align: right"] C-fund:[/TD]
[TD="align: right"] -0.40%[/TD]
[/TR]
[TR]
[TD="align: right"] S-fund:[/TD]
[TD="align: right"] +0.07%[/TD]
[/TR]
[TR]
[TD="align: right"] I-fund:[/TD]
[TD="align: right"] -0.16%[/TD]
[/TR]
[/TABLE]
[TABLE="width: 69%, align: center"]
[TR]
[TD="align: right"] [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
The S&P 500 (SPY) moved above the 20-day EMA in early trading, but closed back below it. The bottom of the open gap acted as resistance, and with trading volume being very light this week, any kind of push by the bulls could still fill that gap - however short-lived it might be. On the other hand, any more negative news and this relief rally could be over.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The Nasdaq 100 (QQQ) actually made a new intraday high yesterday before backing off and resting on that now filled gap. The negative reversal day would have us believe that the QQQ is heading back into the gap, but again, the light volume means the indices can be pushed around.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The Russell 2000 just about filled its open gap, and its close enough to call it a fill. The index closed below the new short-term descending line.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
This week is the epitome of the term, summer doldrums. Volume is light and seasonality is below average. We have some mixed signals in the indicators and yesterdays weak close made the indices a little less attractive. It doesn't seem like a good time to be overly aggressive.
In today's TSP Talk Plus report we'll go over an interesting development in the put / call ratios, we'll compare the AAII Sentiment numbers to TSP Talk's, plus we'll go over a couple more charts. 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 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.
