Stocks opened lower on Friday after a slightly weaker than expected jobs report, but it didn't take long for the bulls to jump on the morning dip and push most indices into positive territory by the close. The Dow ended the day up 19-points and the broader indices also saw slight gains. Bonds had a nice day.
[TABLE="align: center"]
[TR]
[TD="align: center"]
[TD="align: center"][/TD]
[TD="align: center"] Daily TSP Funds Return
[TR]
[TD="align: right"] [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
I will be out of town this week and working on my laptop with a slower internet connection, which I like to describe as trying to run in peanut butter compared to my office set up. It's a little frustrating. Because of that, my commentaries may be brief, but everything should get posted - premium services, share prices, AutoTracker, etc. Your patience will be appreciated.
Also, Tuesday is Veteran's Day and while the markets are open, the TSP will be closed and will not process any transactions nor post any share prices, so we'll take the day off here as well.
The SPY (S&P 500 / C-fund) should give us some clues this week if the big inverted head and shoulders pattern is going to continue to form, which would result in a pullback. The alternative is a breakout above the neckline resistance.
Chart provided courtesy of www.stockcharts.com, analysis by TSP Talk
Is this what we're seeing? If so the right shoulder (RS) may start to form this week...
The Wilshire 4500 (S-fund) started last week with a negative reversal day followed by a minor dip but it that's actually not a bad little consolidation. The problem is the small caps have run up over 10% since the October lows and the easy money, for those in stocks, may have already been made. I can't imagine this angle of incline can continue too much longer without a more meaningful consolidation.
Chart provided courtesy of www.stockcharts.com, analysis by TSP Talk
The EFA (EAFE Index / I-fund) posted a nice positive reversal day on Friday, but it remains in a short-term downtrend and we are also seeing another possible lower high if the 50-day EMA holds as resistance.
Chart provided courtesy of www.stockcharts.com, analysis by TSP Talk
The AGG (Bonds / F-fund) broke out of its descending trading channel with a nice gain after finding support where the August highs met the 50-day EMA. They are due for a little oversold rally but that peak in October may turn out to be a long-term top for bonds.
Chart provided courtesy of www.stockcharts.com, analysis by TSP Talk
Read more in today's TSP Talk Plus Report. We post more charts, indicators and analysis, plus discuss the Sentiment Survey Results and 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! Enjoy your Veteran's Day holiday, and as always, a big thank you to all our veterans out there! We appreciate everything you do, and the sacrifices you make, for us civilians. We'll see you back here on Wednesday.
Tom Crowley
Posted daily at A web page that points a browser to a different page after a few seconds
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.
