Breakdown
Happy Independence Day! This will be a brief holiday version of the Weekly Wrap-Up.
It was another poor week for the stock market as support was broken, and many of the bear market signals are starting to sound off.
For the week, all of the TSP stock funds lost ground. The C-fund lost 4.99%, the S-fund was down 6.44%, and the I-fund dropped 3.34%. Bonds (F-fund) were up 0.37%, and the G-fund added 0.05%.
Last week we talked about the 1040 area being a very important support level for the S&P 500. As you can see below, it was unable to hold and investors may want to consider an new outlook for the intermediate-term.
Charts provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The market is quite oversold and the investor sentiment is very bearish and from a contrarian point of view, that is slightly bullish for the short-term. That means we could see a little snap-back rally in the market in the coming days, but unless the S&P 500 can recapture the 1040-1050 area, and climb back above the 200-day EMA (purple line above), we at TSP Talk are staying very defensive looking out any further than a short-term rally.
Good luck, and thanks for reading. We will be back here next week with another TSP Wrap Up.
Tom Crowley
www.tsptalk.com
Weekly Wrap-Ups Archive
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TSP Talk does not guarantee the accuracy or completeness of this report, nor does TSPtalk.com assume any liability for any loss that may result from reliance by any person upon any such information or opinions. Such information and opinions are subject to change without notice and are for general information only.
The information contained on this website is for educational purposes only and not intended to be recommendations, and may not be published, broadcast, rewritten or otherwise distributed without prior written consent from TSPtalk.com. Full Disclaimer
Happy Independence Day! This will be a brief holiday version of the Weekly Wrap-Up.
It was another poor week for the stock market as support was broken, and many of the bear market signals are starting to sound off.
For the week, all of the TSP stock funds lost ground. The C-fund lost 4.99%, the S-fund was down 6.44%, and the I-fund dropped 3.34%. Bonds (F-fund) were up 0.37%, and the G-fund added 0.05%.
Last week we talked about the 1040 area being a very important support level for the S&P 500. As you can see below, it was unable to hold and investors may want to consider an new outlook for the intermediate-term.
Charts provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The market is quite oversold and the investor sentiment is very bearish and from a contrarian point of view, that is slightly bullish for the short-term. That means we could see a little snap-back rally in the market in the coming days, but unless the S&P 500 can recapture the 1040-1050 area, and climb back above the 200-day EMA (purple line above), we at TSP Talk are staying very defensive looking out any further than a short-term rally.
Good luck, and thanks for reading. We will be back here next week with another TSP Wrap Up.
Tom Crowley
www.tsptalk.com
Weekly Wrap-Ups Archive
--------------------------------------
TSP Talk does not guarantee the accuracy or completeness of this report, nor does TSPtalk.com assume any liability for any loss that may result from reliance by any person upon any such information or opinions. Such information and opinions are subject to change without notice and are for general information only.
The information contained on this website is for educational purposes only and not intended to be recommendations, and may not be published, broadcast, rewritten or otherwise distributed without prior written consent from TSPtalk.com. Full Disclaimer
