Jobs, Jobs, Jobs
After a big week for stocks prior to the 4th of July weekend, things settled down a little last week as employment reports took center stage.
For the TSP, the C-fund was up 0.36% for the week. The S-fund gained 1.26%, while the I-fund lost 1.29% mainly because of a rebound in the dollar. Bonds (F-fund) added 0.78%, and the G-fund was up 0.05%.
For the month the C-fund is up 1.81%, the S-fund has gained 2.87%, the I-fund is off 0.03%, the F-fund has added 0.67%, and the G-fund is up 0.06%.
The week started out rather flat before we saw a big rally off of the strong ADP weekly jobs report on Thursday. But by Friday, the disappointing June jobs report triggered a pullback, although the S&P 500 was able to close above some key support levels.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The 20-day EMA has now moved above the 50-day EMA, which is a bullish sign, but it also tends to be a short-term indication of being overbought, so a little chopping around for a few days seems very appropriate. I will be looking for the 1330 to 1340 area to hold up as a break below that could indicate that more consolidation is needed and I may use an IFT (interfund transfer) to move to the sidelines for a while. But should the S&P hold 1330, I am willing to ride the bull.
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
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.
After a big week for stocks prior to the 4th of July weekend, things settled down a little last week as employment reports took center stage.
For the TSP, the C-fund was up 0.36% for the week. The S-fund gained 1.26%, while the I-fund lost 1.29% mainly because of a rebound in the dollar. Bonds (F-fund) added 0.78%, and the G-fund was up 0.05%.
For the month the C-fund is up 1.81%, the S-fund has gained 2.87%, the I-fund is off 0.03%, the F-fund has added 0.67%, and the G-fund is up 0.06%.
The week started out rather flat before we saw a big rally off of the strong ADP weekly jobs report on Thursday. But by Friday, the disappointing June jobs report triggered a pullback, although the S&P 500 was able to close above some key support levels.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The 20-day EMA has now moved above the 50-day EMA, which is a bullish sign, but it also tends to be a short-term indication of being overbought, so a little chopping around for a few days seems very appropriate. I will be looking for the 1330 to 1340 area to hold up as a break below that could indicate that more consolidation is needed and I may use an IFT (interfund transfer) to move to the sidelines for a while. But should the S&P hold 1330, I am willing to ride the bull.
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
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.
