4/03/12
Stocks started the 2nd quarter the way it ended the first - with a rally. The Dow gained 52-points on the day and unlike Friday's action, the gains were spread through all of the major indices.
For the TSP, the C-fund was up 0.76% yesterday, the S-fund gained 0.90%, the I-fund made 1.09%, and the F-fund (bonds) added 0.10%.
It is spring break this week in our school district, so the kids are out of school. Unless something major happens, I am going to try to keep the commentaries brief so I can spend a little more time with family this week.
The trend continues. The only thing of interest to report is that the S&P 500 made a new high for the year.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The market leader Dow Transportation Index is still off of the highs, which is somewhat interesting since it has not made a new closing high since early February, while the S&P is significantly high than it was back then.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The other leader is the Nasdaq and while much closer, it also did not make a new high yesterday. The leaders are lagging.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Leader #3 is probably the Russell 2000. The small cap have had a great year but this index is also off of the recent highs.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Here's another look at the seasonality surrounding Good Friday:
Chart provided courtesy of www.sentimentrader.com
The stock market is closed on Friday for the holiday, but I believe the bond market opens for a half day. So far the TSP.gov website has not indicated if they are taking transactions that day or not. Last year they did close for the day.
Thanks for reading! We'll see you tomorrow.
Tom Crowley
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