05/09/13
Stocks were higher again yesterday as the relentless rally continues. The Dow was up 49-points making it 12 of the 14 days where the Dow, S&P 500, and Nasdaq closed in positive territory.
[TABLE="width: 88%, align: center"]
[TR]
[TD]
[/TD]
[TD="align: center"]Daily TSP Funds Return[TABLE="width: 153"]
[TR]
[TD]G-Fund:[/TD]
[TD="align: right"]+0.0043%[/TD]
[/TR]
[TR]
[TD]F-fund:[/TD]
[TD="align: right"]+0.10%[/TD]
[/TR]
[TR]
[TD]C-fund:[/TD]
[TD="align: right"]+0.46%[/TD]
[/TR]
[TR]
[TD]S-fund:[/TD]
[TD="align: right"]+0.43%[/TD]
[/TR]
[TR]
[TD]I-fund:[/TD]
[TD="align: right"]+1.25%[/TD]
[/TR]
[/TABLE]
[TABLE="width: 80%, align: center"]
[TR]
[TD="align: right"]More returns [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
The S&P 500 continues to push against the rising resistance lines.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Another look at the rally in intermediate (blue) and longer (red) term.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The Nasdaq has an open gap to deal with but it is now above its rising resistance line.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Very surprisingly, while our TSP Talk survey continues to show our readers as being overly bearish (which is usually bullish for stocks), this smart money indicator called the OEX put / call ratio, shows that the smart money is as bullish as they have been since the lows made in November.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
It is not surprising the smart money is on the opposite end of the sentiment scale as us, but it is very surprising that they are more bullish now than they have been all year, despite the 15% - 16% gains in the first 4+ months of the year. It looks like they are betting that the Fed will keep the stock market from falling.
Bonds, via TLT, continue to hold at the 50-day EMA after the recent pullback from highs.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
As usual, we would expect bonds to move higher only if stocks start to pullback, but with stocks and bonds both near recent highs, we may be seeing a bit of a decoupling from the normal stocks / bonds relationship. At least in the short-term.
Thanks for reading! We'll see you 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 were higher again yesterday as the relentless rally continues. The Dow was up 49-points making it 12 of the 14 days where the Dow, S&P 500, and Nasdaq closed in positive territory.
[TABLE="width: 88%, align: center"]
[TR]
[TD]
[TD="align: center"]Daily TSP Funds Return[TABLE="width: 153"]
[TR]
[TD]G-Fund:[/TD]
[TD="align: right"]+0.0043%[/TD]
[/TR]
[TR]
[TD]F-fund:[/TD]
[TD="align: right"]+0.10%[/TD]
[/TR]
[TR]
[TD]C-fund:[/TD]
[TD="align: right"]+0.46%[/TD]
[/TR]
[TR]
[TD]S-fund:[/TD]
[TD="align: right"]+0.43%[/TD]
[/TR]
[TR]
[TD]I-fund:[/TD]
[TD="align: right"]+1.25%[/TD]
[/TR]
[/TABLE]
[TABLE="width: 80%, align: center"]
[TR]
[TD="align: right"]More returns [/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
The S&P 500 continues to push against the rising resistance lines.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Another look at the rally in intermediate (blue) and longer (red) term.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The Nasdaq has an open gap to deal with but it is now above its rising resistance line.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Very surprisingly, while our TSP Talk survey continues to show our readers as being overly bearish (which is usually bullish for stocks), this smart money indicator called the OEX put / call ratio, shows that the smart money is as bullish as they have been since the lows made in November.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
It is not surprising the smart money is on the opposite end of the sentiment scale as us, but it is very surprising that they are more bullish now than they have been all year, despite the 15% - 16% gains in the first 4+ months of the year. It looks like they are betting that the Fed will keep the stock market from falling.
Bonds, via TLT, continue to hold at the 50-day EMA after the recent pullback from highs.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
As usual, we would expect bonds to move higher only if stocks start to pullback, but with stocks and bonds both near recent highs, we may be seeing a bit of a decoupling from the normal stocks / bonds relationship. At least in the short-term.
Thanks for reading! We'll see you 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.
