Stocks remain buoyant during this holiday week of trading. The Dow added another 67-points while the broader indices saw similar modest gains. The EFA even picked up some gains for a second straight day after being held back dramatically by the recent rising value in the dollar.
[TABLE="align: center"]
[TR]
[TD="align: center"] Daily TSP Funds Return
[TABLE="align: center"]
[TR]
[TD="align: right"]
[/TD]
[/TR]
[/TABLE]
[TABLE="align: center"]
[TR]
[TD="align: right"]
[/TD]
[/TR]
[/TABLE]
[/TD]
[TD][/TD]
[TD="align: center"]
[/TR]
[/TABLE]
This is typical positive holiday trading but be wary of the post holiday reversal, although the pre-holiday reversal is supposed to go against the major trend, and we know that hasn't been the case this week. Seasonally, the week after Thanksgiving and into the early part of December, there tends to be a weaker bias for stocks before the Santa Claus rally kicks in. But Santa seems to be giving early this year. By the way, after the holiday in this case means Monday, not Friday.
I don't take many days off from the website but a few times a year I will back off and make things quick so I can spend more time with the family. This week is one of those times. I appreciate your understanding and patience with these brief updates this week.
The SPY (S&P 500 / C-Fund) charged higher again, closing above the wedge formation yet again. That's a bold move since rising wedges tend to break down, but being a holiday week the action can be less than normal.
The EFA (I-Fund) has been mired in a downtrend since the peak in September because the rally in the dollar has kept it from making a move higher. It peaked above the resistance line yesterday after a two-day rally, but pre-holiday action cannot always be trusted and can reverse after the holiday.
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 Thanksgiving! We'll be back on Friday with a brief update.
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.
