6/06/12
Stocks rallied yesterday, albeit on light volume. The Dow gained a modest 26-points but the other major indices saw larger gains.
[TABLE="align: center"]
[TR]
[TD]
[TD="align: center"] Daily TSP Funds Return
[TABLE="align: center"]
[TR]
[TD="align: right"] G-Fund:
[/TD]
[TD] +0.004%
[/TD]
[/TR]
[TR]
[TD="align: right"] F-fund:
[/TD]
[TD] - 0.12%
[/TD]
[/TR]
[TR]
[TD="align: right"] C-fund:
[/TD]
[TD] +0.58%
[/TD]
[/TR]
[TR]
[TD="align: right"] S-fund:
[/TD]
[TD] +1.31%
[/TD]
[/TR]
[TR]
[TD="align: right"] I-fund:
[/TD]
[TD] +0.50%
[/TD]
[/TR]
[/TABLE]
[/TD]
[/TR]
[/TABLE]
The S&P followed through nicely on Monday's reversal day, but the 0.6% gain ran into resistance at the 200-day simple moving average, and that is my main concern right now - then the 200-day EMA.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
If it can get back above those levels, and test the upper end of the falling wedge pattern (red) it could produce a breakout. It's too early to say, but that is what I am watching.
We know the indicators are overbought and the sentiment is overly bearish, but can the negative charts break through the resistance levels?
I am going to be busy the rest of the week so my participation and support may be a little on the sporadic side. I will get the premium services updated each day, hopefully on time, but the daily commentary and weekly wrap up may be brief. I will also update the AutoTracker each day but again, it could be later than usual. Sorry for any inconveniences this may cause.
Thanks for reading! We'll see you tomorrow.
Tom Crowley
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.
