Stocks were mixed on Friday with the Dow gaining 42-points while the S&P 500 and small caps lost almost 0.4%. The I-fund may have to give some of Friday's gains back today since weakness in U.S. stocks came later in the day on Friday. Bonds were up slightly.
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The S&P 500 (SPY) pulled back Friday, but stocks futures are getting a bit of a bounce as I write this Monday night. The chart shows a sideways consolidation since the high made on December 31. This looks like a chart that wants to breakout, just as we saw over and over again in 2013.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The Dow has been lagging a bit but the futures are up over 50-points as I write this and perhaps it will flirt with a new high on Tuesday. As we talked about many times before, it is better to be cautious when the market gaps open on a Monday morning, or in this case, a Tuesday after a holiday weekend, and see if it holds before acting.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The Transportation Index pulled back for a couple of days and it is close to testing the bottom of a short-term rising trading channel and the 20-day EMA. In a bull market like we are in, we would expect this to hold, but the market doesn't always do what we expect.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
What a difference a week and a year makes. The bond market has turned around in 2014 since bottoming on December 31. We've see a new short-term rising trend develop and it looks like both the TLT and the IEF will be testing their 200-day EMA's soon. That will be a good test should it happen.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Since yields move counter to bond prices, we're seeing deterioration in the yield charts with both the 10 and 30-year yields looking over the precipice of a bear flag break down.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
It is a quiet week for economic data but earnings season will heat up this week with a slew of reports coming out including some potential market movers.
Read more in today's TSP Talk Plus Report. We post more charts and indicators, plus discuss the Sentiment Survey Results and its System. 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.
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[TR]
[TD]
[TD="align: center"]Daily TSP Funds Return
[TR]
[TD="align: right"]More returns [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
The S&P 500 (SPY) pulled back Friday, but stocks futures are getting a bit of a bounce as I write this Monday night. The chart shows a sideways consolidation since the high made on December 31. This looks like a chart that wants to breakout, just as we saw over and over again in 2013.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The Dow has been lagging a bit but the futures are up over 50-points as I write this and perhaps it will flirt with a new high on Tuesday. As we talked about many times before, it is better to be cautious when the market gaps open on a Monday morning, or in this case, a Tuesday after a holiday weekend, and see if it holds before acting.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The Transportation Index pulled back for a couple of days and it is close to testing the bottom of a short-term rising trading channel and the 20-day EMA. In a bull market like we are in, we would expect this to hold, but the market doesn't always do what we expect.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
What a difference a week and a year makes. The bond market has turned around in 2014 since bottoming on December 31. We've see a new short-term rising trend develop and it looks like both the TLT and the IEF will be testing their 200-day EMA's soon. That will be a good test should it happen.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Since yields move counter to bond prices, we're seeing deterioration in the yield charts with both the 10 and 30-year yields looking over the precipice of a bear flag break down.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
It is a quiet week for economic data but earnings season will heat up this week with a slew of reports coming out including some potential market movers.
Read more in today's TSP Talk Plus Report. We post more charts and indicators, plus discuss the Sentiment Survey Results and its System. 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.
