04/10/13
The 14 day string of alternating gains and losses is finally over for the S&P 500 as the Dow and S&P both saw solid gains on a day where the up / down pattern would have been a loss had it continued. The Dow gained 60-points on the day.
[TABLE="align: center"]
[TR]
[TD]
[/TD]
[TD="align: center"]
Daily TSP Funds Return[TABLE="width: 156"]
[TR]
[TD="align: right"] G-Fund:
[/TD]
[TD="align: right"] +0.0036%
[/TD]
[/TR]
[TR]
[TD="align: right"] F-fund:
[/TD]
[TD="align: right"] -0.04%
[/TD]
[/TR]
[TR]
[TD="align: right"] C-fund:
[/TD]
[TD="align: right"] +0.35%
[/TD]
[/TR]
[TR]
[TD="align: right"] S-fund:
[/TD]
[TD="align: right"] -0.05%
[/TD]
[/TR]
[TR]
[TD="align: right"] I-fund:
[/TD]
[TD="align: right"] +0.50%
[/TD]
[/TR]
[/TABLE]
[TABLE="align: center"]
[TR]
[TD="align: right"]
[/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
A quick note from the folks at DecisionPoint.com on why they are using ETF's over index charts now - for the small candle charts I like to use...
"We can't use the S&P 500 Index for candlestick analysis [anymore]. The reason being that the reported open for $SPX is always the prior day's close. For example, you can see on the 10-minute bar chart that SPY obviously gapped down on Friday, but the first bar on the $SPX chart extends down from the prior day's close.
"The result is that the candlestick for the $SPX is a hammer, but the candlestick for the SPY, which is a more accurate depiction of price movement, shows a completely different candlestick for Friday."
The two charts are close but obviously there are differences or they wouldn't have changed.
The SPY (S&P 500 ETF) tested the recent highs before backing off some yesterday. We had been wondering what kind of volume we would see on a rebound and you can see that volume has been much lighter on the up days (black volume bars) lately, than on the down days (red volume bars.)
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Two of the leaders, the Transportation Index and the small caps of the Russell 2000, have had less effective bounces and both are now just testing the overhead resistance of their 20-day EMA's after falling below them last week.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
This is an interesting test for this relief rally...
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Earnings season kicked off with the normally dull Alcoa report, and they did not disappoint - they were dull gaining a whopping 0% after announcing their report. It was actually flat to the penny.
The reports will start rolling in but we have a couple of weeks before the bigger names that can move the market start reporting. Let's see how investors prepare for that.
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.
The 14 day string of alternating gains and losses is finally over for the S&P 500 as the Dow and S&P both saw solid gains on a day where the up / down pattern would have been a loss had it continued. The Dow gained 60-points on the day.
[TABLE="align: center"]
[TR]
[TD]
[TD="align: center"]
Daily TSP Funds Return[TABLE="width: 156"]
[TR]
[TD="align: right"] G-Fund:
[/TD]
[TD="align: right"] +0.0036%
[/TD]
[/TR]
[TR]
[TD="align: right"] F-fund:
[/TD]
[TD="align: right"] -0.04%
[/TD]
[/TR]
[TR]
[TD="align: right"] C-fund:
[/TD]
[TD="align: right"] +0.35%
[/TD]
[/TR]
[TR]
[TD="align: right"] S-fund:
[/TD]
[TD="align: right"] -0.05%
[/TD]
[/TR]
[TR]
[TD="align: right"] I-fund:
[/TD]
[TD="align: right"] +0.50%
[/TD]
[/TR]
[/TABLE]
[TABLE="align: center"]
[TR]
[TD="align: right"]
[/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
A quick note from the folks at DecisionPoint.com on why they are using ETF's over index charts now - for the small candle charts I like to use...
"We can't use the S&P 500 Index for candlestick analysis [anymore]. The reason being that the reported open for $SPX is always the prior day's close. For example, you can see on the 10-minute bar chart that SPY obviously gapped down on Friday, but the first bar on the $SPX chart extends down from the prior day's close.
"The result is that the candlestick for the $SPX is a hammer, but the candlestick for the SPY, which is a more accurate depiction of price movement, shows a completely different candlestick for Friday."
The two charts are close but obviously there are differences or they wouldn't have changed.
The SPY (S&P 500 ETF) tested the recent highs before backing off some yesterday. We had been wondering what kind of volume we would see on a rebound and you can see that volume has been much lighter on the up days (black volume bars) lately, than on the down days (red volume bars.)
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Two of the leaders, the Transportation Index and the small caps of the Russell 2000, have had less effective bounces and both are now just testing the overhead resistance of their 20-day EMA's after falling below them last week.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
This is an interesting test for this relief rally...
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Earnings season kicked off with the normally dull Alcoa report, and they did not disappoint - they were dull gaining a whopping 0% after announcing their report. It was actually flat to the penny.
The reports will start rolling in but we have a couple of weeks before the bigger names that can move the market start reporting. Let's see how investors prepare for that.
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.
