It was a choppy week for the stock market as the Dow and S&P 500 danced above and below the break-even line several times during the week. By the close on Friday we saw modest losses in U.S. stocks, but the I-fund had a big week, and the bonds of the F-fund posted a positive number.
Here are the weekly, monthly, and annual TSP fund returns through Friday, March 28...
Unlike some indices, no real technical damage has been done to this chart of the SPY (S&P 500 / C-fund) as it has been holding above the neckline of an inverted head and shoulders pattern. It is also hovering above the 50-day EMA in that same area, which could be a very important area of support and needs to hold.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The chart of the Nasdaq has broken down in the short-term, but pulling back and looking at a year-long chart shows there may be at some longer-term support in this area. It can use it.
Bonds have shown some life, particularly on the 20+ year bonds, but this 7 to 10 year bond ETF, which I find to be more telling for the F-fund, is trading within a large sideways trading range (black) and a pennant formation (red). It is testing the lower end of the pennant as well as the 50-day and 200-day EMAs right now.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
If the 20+ year bonds are any indication, the IEF above should eventually break to the upside, but the imminent support must hold here near 101.50.
The market has a reputation of climbing the preverbal wall of worry, and this coming week will put that to the test. The week will end with the March jobs report, which always makes investors nervous, plus the situation in the Ukraine seems to be heating up again.
Good luck,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.If you need some help deciding what to do with your account, perhaps one of our premium services can help.
Tom Crowley
www.tsptalk.com
Weekly Wrap-UpsArchive
Facebook | Twitter
Thelegal 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.
