Stocks flat, bonds up

Stocks were mostly lower on Monday but once again the dip buyers showed and the indices closed well off the lows. The Dow closed near the day's highs despite being down 24-points on the day.

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The I fund lagged a bit, but it has been on a tear and any dip is certainly not unhealthy at this point. Bonds had a good day, but the AGG bond fund chart remains in a bear flag.

I was traveling most of the day and got off to a late start with my back-up equipment, and with the indices finishing close to flat, I am going to take advantage and make this brief today. I will post a link to Monday's commentary below as it is still relevant.

The SPY (S&P 500 / C-fund) continues to mimic the action of last November after a similar breakout, rally, and sideways consolidation (blue boxes). Should it continue I think we could see either a little more sideways action first, but by the end of the week another potential push higher. Depending on how long this rhymes the November action, any serious pullback might be put off until next month.

Chart provided courtesy of www.stockcharts.com, analysis by TSP Talk


Monday's Commentary

Thanks for reading! We'll see you back here tomorrow.

Tom Crowley


Posted daily at TSP Talk Market Commentary

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