The overnight futures were down sharply on Thursday morning but bottomed at about 6:30 AM ET and for the rest of the day the market indices floated higher as the bears once again stepped aside and let the bulls do their thing. The Dow closed with a gain of 156-points as the post Fed exuberance continued.
[TABLE="width: 89%, align: center"]
[TR]
[TD="width: 180, align: center"]
[/TD]
[TD="width: 49, align: center"][/TD]
[TD="align: center"] Daily TSP Funds Return
[TABLE="width: 69%, align: center"]
[TR]
[TD="align: right"] [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
Oil jumped back over $40 a barrel. Did it just go too far on the downside and is now normalizing, or did something change fundamentally? Perhaps it is the agreement to cut production? Whatever it is, it doesn't feel natural but investors are happy with it for now.
This is one of the nights of the year (the first Thursday of the NCAA Tournament) that I give myself a half day off to watch the games so today's commentary will be very brief.
Technically, nothing that happened yesterday changed much except that the bear market is all but over. That doesn't mean stocks will go straight up from here. As a matter of fact the indices are so overbought that a pullback here seems logical, although the action hasn't been all that logical lately so you never know.
Thanks for reading. Have a great weekend!
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
[TABLE="width: 89%, align: center"]
[TR]
[TD="width: 180, align: center"]
[TD="width: 49, align: center"][/TD]
[TD="align: center"] Daily TSP Funds Return
[TR]
[TD="align: right"] [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
Oil jumped back over $40 a barrel. Did it just go too far on the downside and is now normalizing, or did something change fundamentally? Perhaps it is the agreement to cut production? Whatever it is, it doesn't feel natural but investors are happy with it for now.
This is one of the nights of the year (the first Thursday of the NCAA Tournament) that I give myself a half day off to watch the games so today's commentary will be very brief.
Technically, nothing that happened yesterday changed much except that the bear market is all but over. That doesn't mean stocks will go straight up from here. As a matter of fact the indices are so overbought that a pullback here seems logical, although the action hasn't been all that logical lately so you never know.
Thanks for reading. Have a great weekend!
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
