Stocks ended the week with some decent gains despite the weak close on Fri[FONT=Arial !important]day. The post FOMC meeting on Wednesday was met with some selling after the Fed continued to taper their bond buying, and talked about eventual higher interest rates. The market recovered nicely on Thursday and opened sharply higher on Friday, but investors took profits going into the weekend with tensions still high on the geopolitical front.[/FONT]
Here are the weekly, monthly, and annual TSP fund returns through Friday, March 21...
The SPY (S&P 500 / C-fund) broke out to new highs on Friday morning, but that didn't last long and we saw steady selling into the close. Technically, the rising trend is still intact, but the negative reversal day is a bit of a red flag heading into the new week.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Th[FONT=Arial !important]e Nasdaq is one of the market leaders and its recent action is not something to be excited about. It has been lagging a bit since it did not make a new high like the S&P 500, but it also posted a negative outside reversal day on Friday. That's where the high on Friday was higher than the high on Thursday, but the low was a lower than the low on Thursday, and it closed below Thursday's low on high volume. We have seen a few of these over the last couple of weeks and they are not the best signs for the market. The best recipe for this set up is a move back above Friday's high, but that may prove difficult..
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Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
[FONT=Arial !important]Bonds remained in their sideways trading channel. In last week's Wrap Up this chart was testing the top of the range. This week it is down testing the lower end. The path of least resistance would seem to be up at this point, but I am going to wait to see which way this channel wants to break before deciding what I want to do with the F-fund.[/FONT]
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Good luck, and thanks for reading. We will be back here next week with another TSP Wrap Up. You can read our daily market commentary at TSP Talk Market Commentary.
Tom Crowley
www.tsptalk.com
Weekly Wrap-Ups Archive
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The legal stuff: This information is for educational purposes only! This is not advice or are commendation. 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.
Here are the weekly, monthly, and annual TSP fund returns through Friday, March 21...
The SPY (S&P 500 / C-fund) broke out to new highs on Friday morning, but that didn't last long and we saw steady selling into the close. Technically, the rising trend is still intact, but the negative reversal day is a bit of a red flag heading into the new week.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Th[FONT=Arial !important]e Nasdaq is one of the market leaders and its recent action is not something to be excited about. It has been lagging a bit since it did not make a new high like the S&P 500, but it also posted a negative outside reversal day on Friday. That's where the high on Friday was higher than the high on Thursday, but the low was a lower than the low on Thursday, and it closed below Thursday's low on high volume. We have seen a few of these over the last couple of weeks and they are not the best signs for the market. The best recipe for this set up is a move back above Friday's high, but that may prove difficult..
[/FONT]
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
[FONT=Arial !important]Bonds remained in their sideways trading channel. In last week's Wrap Up this chart was testing the top of the range. This week it is down testing the lower end. The path of least resistance would seem to be up at this point, but I am going to wait to see which way this channel wants to break before deciding what I want to do with the F-fund.[/FONT]
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Good luck, and thanks for reading. We will be back here next week with another TSP Wrap Up. You can read our daily market commentary at TSP Talk Market Commentary.
Tom Crowley
www.tsptalk.com
Weekly Wrap-Ups Archive
Facebook | Twitter
The legal stuff: This information is for educational purposes only! This is not advice or are commendation. 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.
