Pullback
After a powerful two-week rally, tough times hit the market last week starting with the bond problems in Italy, the stalemate in the U.S. debt ceiling negotiations, and the Fed proclaiming that they have no plans for a QE3, but earnings are starting to roll in and the market may change its focus this coming week.
For the TSP, the C-fund was down 2.05% for the week. The S-fund fell 2.65%, and the I-fund shed 2.71%. Bonds (F-fund) gained 0.32% as investors looked for a little safety, and the G-fund was up 0.05%.
For the month of July the C-fund is now down 0.27%, the S-fund has gained 0.14%, the I-fund is down 2.74%, the F-fund has added 0.98%, and the G-fund is up 0.11%.
The S&P 500 (our C-fund) pulled back sharply last week but is trying to hold onto some key support areas. After a one-day breakdown, the index is trading back above the 20-day and 50-day EMA’s, and the 20 EMA is above the 50 EMA. This is a bullish setup, but a couple of bad days early this week could change that.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
I am sure the market will nervously bounce around with every debt ceiling rumor that comes out of Washington, and the European bailouts will remain in the forefront, but I look for earnings reports from some key companies to do most of the pushing and pulling this week.
Google’s strong report was encouraging late last week, and big names like IBM on Monday and Apple on Tuesday, should set the tone for the week.
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 powerful two-week rally, tough times hit the market last week starting with the bond problems in Italy, the stalemate in the U.S. debt ceiling negotiations, and the Fed proclaiming that they have no plans for a QE3, but earnings are starting to roll in and the market may change its focus this coming week.
For the TSP, the C-fund was down 2.05% for the week. The S-fund fell 2.65%, and the I-fund shed 2.71%. Bonds (F-fund) gained 0.32% as investors looked for a little safety, and the G-fund was up 0.05%.
For the month of July the C-fund is now down 0.27%, the S-fund has gained 0.14%, the I-fund is down 2.74%, the F-fund has added 0.98%, and the G-fund is up 0.11%.
The S&P 500 (our C-fund) pulled back sharply last week but is trying to hold onto some key support areas. After a one-day breakdown, the index is trading back above the 20-day and 50-day EMA’s, and the 20 EMA is above the 50 EMA. This is a bullish setup, but a couple of bad days early this week could change that.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
I am sure the market will nervously bounce around with every debt ceiling rumor that comes out of Washington, and the European bailouts will remain in the forefront, but I look for earnings reports from some key companies to do most of the pushing and pulling this week.
Google’s strong report was encouraging late last week, and big names like IBM on Monday and Apple on Tuesday, should set the tone for the week.
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.
