Stocks were mixed on Wednesday with the Dow giving back 65 of Tuesday's 160+ point gain. The large cap techs kept the pressure on and managed a small gain for the Nasdaq, but the S&P 500 and small caps posted slight losses. The I-fund led as the dollar lost 0.78% on Wednesday.
[TABLE="align: center"]
[TR]
[TD="align: center"] Daily TSP Funds Return
[TABLE="align: center"]
[TR]
[TD="align: right"] [/TD]
[/TR]
[/TABLE]
[/TD]
[TD][/TD]
[TD="align: center"]
[/TD]
[/TR]
[/TABLE]
We saw a lot of front running on Tuesday. That is, investors jumped into the stocks the day before the normally strong two-day period on the day before and the day after Thanksgiving Day as the chart below suggests, so Wednesday saw a bit of profit taking and the seasonal advantage lost some of its thunder.
Chart courtesy of www.sentimentrader.com
Today is a short trading day for stocks as the markets close early. There generally isn't anything major happening so we tend to see slight to modest gains but again, since Tuesday was so positive, Friday may not necessarily be up for a big day.
Monday has a negative bias based on that chart but that's probably because there is usually is some profit taking from Wednesday and Friday's positive bias, but if there aren't any gains to be had, perhaps it won't play out the same way.
The SPY (S&P 500 / C-fund) broke out to a new high last week and Wednesday was just a quiet digestion day from those big Tuesday gains. The question I have while looking at this chart is whether the new high will hold which, when it does, we tend to get a new leg higher. If that 259 level fails, then we have a different story.
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. Have a great weekend!
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]
We saw a lot of front running on Tuesday. That is, investors jumped into the stocks the day before the normally strong two-day period on the day before and the day after Thanksgiving Day as the chart below suggests, so Wednesday saw a bit of profit taking and the seasonal advantage lost some of its thunder.
Chart courtesy of www.sentimentrader.com
Today is a short trading day for stocks as the markets close early. There generally isn't anything major happening so we tend to see slight to modest gains but again, since Tuesday was so positive, Friday may not necessarily be up for a big day.
Monday has a negative bias based on that chart but that's probably because there is usually is some profit taking from Wednesday and Friday's positive bias, but if there aren't any gains to be had, perhaps it won't play out the same way.
The SPY (S&P 500 / C-fund) broke out to a new high last week and Wednesday was just a quiet digestion day from those big Tuesday gains. The question I have while looking at this chart is whether the new high will hold which, when it does, we tend to get a new leg higher. If that 259 level fails, then we have a different story.
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. Have a great weekend!
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.
