09/10/13
Stocks rallied out of the gate on Monday morning with virtually no fight from the bears. The Dow gained 141-points with gains near 1% and higher on most indices. Small caps led the way and even bonds moved higher.
[TABLE="width: 80%, align: center"]
[TR]
[TD="width: 310"]
[/TD]
[TD="align: center"] Daily TSP Funds Return[TABLE="width: 156"]
[TR]
[TD="align: right"] G-Fund:[/TD]
[TD="align: right"] +0.0197%[/TD]
[/TR]
[TR]
[TD="align: right"] F-fund:[/TD]
[TD="align: right"] +0.31%[/TD]
[/TR]
[TR]
[TD="align: right"] C-fund:[/TD]
[TD="align: right"] +1.00%[/TD]
[/TR]
[TR]
[TD="align: right"] S-fund:[/TD]
[TD="align: right"] +1.51%[/TD]
[/TR]
[TR]
[TD="align: right"] I-fund:[/TD]
[TD="align: right"] +0.83%[/TD]
[/TR]
[/TABLE]
[TABLE="width: 69%, align: center"]
[TR]
[TD="align: right"] [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The longer-term chart of the S&P 500 shows that the bottom of the rising trading channel held and so far seems like buying that support was the play. As I mentioned before, staying bullish while trading above that support, and selling if that support was broken, would be a good strategy. I wish I was smart enough to do that, but I have to admit I did not expect that support to hold. Now the S&P 500 is above both the simple and exponential 50-day moving averages and this looks better - but we are getting overbought and I'd prefer to see the gaps get filled and have the indices move above those gaps rather than have them act as resistance.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The leading Transportation Index filled its open gap yesterday after breaking above resistance. Moving above 116 will be a bullish move technically since filled gaps can also act as resistance.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
In today's TSP Talk Plus report we'll go over the Dow, the Nasdaq, small caps, bonds, the overbought / oversold indicator, and reflect on the recent sentiment system signal. 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.
Stocks rallied out of the gate on Monday morning with virtually no fight from the bears. The Dow gained 141-points with gains near 1% and higher on most indices. Small caps led the way and even bonds moved higher.
[TABLE="width: 80%, align: center"]
[TR]
[TD="width: 310"]
[TD="align: center"] Daily TSP Funds Return[TABLE="width: 156"]
[TR]
[TD="align: right"] G-Fund:[/TD]
[TD="align: right"] +0.0197%[/TD]
[/TR]
[TR]
[TD="align: right"] F-fund:[/TD]
[TD="align: right"] +0.31%[/TD]
[/TR]
[TR]
[TD="align: right"] C-fund:[/TD]
[TD="align: right"] +1.00%[/TD]
[/TR]
[TR]
[TD="align: right"] S-fund:[/TD]
[TD="align: right"] +1.51%[/TD]
[/TR]
[TR]
[TD="align: right"] I-fund:[/TD]
[TD="align: right"] +0.83%[/TD]
[/TR]
[/TABLE]
[TABLE="width: 69%, align: center"]
[TR]
[TD="align: right"] [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
The I-fund lagged slightly as overseas markets were mixed. The Far East indices were up big, but European stocks were flat to slightly down.
The S&P 500 (SPY) broke through resistance like a hot knife through butter. It seems the pull from the open gaps had more strength than the overhead resistance. The gap on the S&P 500 did not get filled yet, but we saw gaps in other indices get filled yesterday.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The longer-term chart of the S&P 500 shows that the bottom of the rising trading channel held and so far seems like buying that support was the play. As I mentioned before, staying bullish while trading above that support, and selling if that support was broken, would be a good strategy. I wish I was smart enough to do that, but I have to admit I did not expect that support to hold. Now the S&P 500 is above both the simple and exponential 50-day moving averages and this looks better - but we are getting overbought and I'd prefer to see the gaps get filled and have the indices move above those gaps rather than have them act as resistance.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The leading Transportation Index filled its open gap yesterday after breaking above resistance. Moving above 116 will be a bullish move technically since filled gaps can also act as resistance.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
In today's TSP Talk Plus report we'll go over the Dow, the Nasdaq, small caps, bonds, the overbought / oversold indicator, and reflect on the recent sentiment system signal. 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.
