06/08/12
Stocks rallied early but were stymied by statements by Fed Chairman Ben Bernanke warning us of 'fiscal cliff' risks. By the close the Dow gained 46-points, the S&P 500 was flat, and the Nasdaq was down 14.
[TABLE="align: center"]
[TR]
[TD]
[TD="align: center"] Daily TSP Funds Return
[TABLE="align: center"]
[TR]
[TD="align: right"] G-Fund:
[/TD]
[TD] +0.004%
[/TD]
[/TR]
[TR]
[TD="align: right"] F-fund:
[/TD]
[TD] +0.03%
[/TD]
[/TR]
[TR]
[TD="align: right"] C-fund:
[/TD]
[TD] - 0.01%
[/TD]
[/TR]
[TR]
[TD="align: right"] S-fund:
[/TD]
[TD] - 0.60%
[/TD]
[/TR]
[TR]
[TD="align: right"] I-fund:
[/TD]
[TD] +0.41%
[/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
The S&P 500 shows the ominous negative reversal day. Not the best development, but it did manage to hang onto the 200-day EMA another day.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
There's also a little support from the top of the broken falling wedge pattern, although it is descending so the support is also dropping.
The TSP Talk Sentiment Survey came in at 49% bulls, 42% bears, for a bulls to bears ratio of 1.17 to 1. That is a buy signal which means the system will remain 100% S fund for the week of 6/11/12 - 6/15/12.
Again, I am busy the rest of the week so my participation and support may be a little on the sporadic side. I will get the premium services updated each day, hopefully on time, but the daily commentary and weekly wrap up may be brief. I will also update the AutoTracker each day but again, it could be later than usual. Sorry for any inconveniences this may cause.
Thanks for reading! Have a great weekend!
Tom Crowley
