Stocks slipped early but the midday buyers showed up again and the indices closed near their highs of the day. The Dow gained 15-points, and all of the TSP stock funds closed at all-time high prices.
[TABLE="align: center"]
[TR]
[TD]
[TD="align: center"] Daily TSP Funds Return
[TABLE="align: center"]
[TR]
[TD="align: right"]
[/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
The F-fund was up slightly and the I-fund led with the help of a falling dollar.
The SPY (S&P 500 / C-fund) was only up slightly but made another new high on Thursday, after Wednesday's big Fed fueled rally. It has closed in positive territory for 5 straight says after last week's pullback.
Chart provided courtesy of www.stockcharts.com, analysis by TSP Talk
The Wilshire 4500, which our S-fund tracks, made a new closing high on Thursday but is still going to have a little battle at this double, maybe triple top. If the pullback in June was a little more steep, I would have less doubt that it would break though. But the fact that is has gone from about 970 to 1040 without breaking its rising support line, makes me think there may need to be some more consolidation for the index to get the strength to breakout and hold.
Chart provided courtesy of www.stockcharts.com, analysis by TSP Talk
The Dow Transportation Index is hanging on and doing well despite the sharp rise in oil prices lately. This index is sensitive to oil prices and economy data so the fact that it is still near all-time highs is a plus for the other U.S. indices. It needs to make a new high soon or we may be talking "lower high" next week.
Chart provided courtesy of www.stockcharts.com, analysis by TSP Talk
The I-fund had a good day and some of that was because of the drop in the dollar yesterday (Thursday). The dollar broke below a rising trading channel earlier in the week, and now has fallen below the 50-day EMA. That large open gap has got to be an attraction it may not be able to resist.
Chart provided courtesy of www.stockcharts.com, analysis by TSP Talk
The F-fund was up slightly on Thursday but the AGG was down. It had been up earlier in the day breaking above that short-term resistance line, but it closed weakly as stocks were rallying, and is back below the 20-day EMA. It's a pretty good consolidation between 108.75 to 109.00, and it could resolve itself to the upside if that now filled gap can hold, but the rising trend already broke so I need to see more before being bullish on 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 its 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.html
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.
