Stocks opened higher yesterday but could never really make much headway after the early morning highs. Weak afternoon trading took the Dow back toward the break-even level while the broader indices saw some modest gains. Bonds were up again as they drift toward some open gaps.
[TABLE="width: 80%, align: center"]
[TR]
[TD="width: 300"]
[/TD]
[TD="align: center"] Daily TSP Funds Return[TABLE="width: 163"]
[TR]
[TD="width: 83, align: right"] G-Fund:[/TD]
[TD="width: 80, align: right"] +0.0182%[/TD]
[/TR]
[TR]
[TD="width: 83, align: right"] F-fund:[/TD]
[TD="width: 80, align: right"] +0.16%[/TD]
[/TR]
[TR]
[TD="width: 83, align: right"] C-fund:[/TD]
[TD="width: 80, align: right"] +0.19%[/TD]
[/TR]
[TR]
[TD="width: 83, align: right"] S-fund:[/TD]
[TD="width: 80, align: right"] +0.08%[/TD]
[/TR]
[TR]
[TD="width: 83, align: right"] I-fund:[/TD]
[TD="width: 80, align: right"] +0.50%[/TD]
[/TR]
[/TABLE]
[TABLE="width: 69%, align: center"]
[TR]
[TD="align: right"] [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
The I-fund led the way because of the late selling in the U.S. stocks and some weakness in the dollar.
The S&P 500 (SPY) experienced a low volume, tight range, trading day that stalled at the late November high, but still made a new closing high. It was almost holiday-like trading. That small gap created by the jobs report is still open and an obvious target for any pullbacks.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The small caps are lagging again as they are not reaching their November highs yet. Support is rising and the Russell may be testing the bottom of that channel again very soon if the small caps don't wake up a little.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Keeping an eye on oil and I see it has reached an interesting juncture on the chart where a series of resistance points are coming together. Being below the 200-day EMA and in a downtrend, I would expect this to turn out bearish for oil. If however, this resistance can be broken, it would be a very strong and bullish move for the price of oil.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
With oil being below $100 these last few weeks - helping keep the price of gasoline at a more manageable level, perhaps consumers will have more money to spend over the holidays. That would be good news for the stock market.
Bonds had another up day and the bond funds seem to be creeping up in an attempt to fill some open gaps.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
These charts still look bearish for bonds and the F-fund so if and when those gaps get filled, I would avoid the F-fund.
In today's TSP Talk Plus Report we look at the dollar and a very interesting divergence in the McClellan Oscillator that produced some big moves for stocks in the past. 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.
[TABLE="width: 80%, align: center"]
[TR]
[TD="width: 300"]
[TD="align: center"] Daily TSP Funds Return[TABLE="width: 163"]
[TR]
[TD="width: 83, align: right"] G-Fund:[/TD]
[TD="width: 80, align: right"] +0.0182%[/TD]
[/TR]
[TR]
[TD="width: 83, align: right"] F-fund:[/TD]
[TD="width: 80, align: right"] +0.16%[/TD]
[/TR]
[TR]
[TD="width: 83, align: right"] C-fund:[/TD]
[TD="width: 80, align: right"] +0.19%[/TD]
[/TR]
[TR]
[TD="width: 83, align: right"] S-fund:[/TD]
[TD="width: 80, align: right"] +0.08%[/TD]
[/TR]
[TR]
[TD="width: 83, align: right"] I-fund:[/TD]
[TD="width: 80, align: right"] +0.50%[/TD]
[/TR]
[/TABLE]
[TABLE="width: 69%, align: center"]
[TR]
[TD="align: right"] [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
The I-fund led the way because of the late selling in the U.S. stocks and some weakness in the dollar.
The S&P 500 (SPY) experienced a low volume, tight range, trading day that stalled at the late November high, but still made a new closing high. It was almost holiday-like trading. That small gap created by the jobs report is still open and an obvious target for any pullbacks.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The small caps are lagging again as they are not reaching their November highs yet. Support is rising and the Russell may be testing the bottom of that channel again very soon if the small caps don't wake up a little.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Keeping an eye on oil and I see it has reached an interesting juncture on the chart where a series of resistance points are coming together. Being below the 200-day EMA and in a downtrend, I would expect this to turn out bearish for oil. If however, this resistance can be broken, it would be a very strong and bullish move for the price of oil.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
With oil being below $100 these last few weeks - helping keep the price of gasoline at a more manageable level, perhaps consumers will have more money to spend over the holidays. That would be good news for the stock market.
Bonds had another up day and the bond funds seem to be creeping up in an attempt to fill some open gaps.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
These charts still look bearish for bonds and the F-fund so if and when those gaps get filled, I would avoid the F-fund.
In today's TSP Talk Plus Report we look at the dollar and a very interesting divergence in the McClellan Oscillator that produced some big moves for stocks in the past. 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.
