Stocks started the week on some shaky ground, but the bulls still have some life left in them and we saw positive numbers in the U.S. TSP stock funds. The jobs report came in a little light on Friday but investors shook it off and some of the major indices closed at or near all time highs.
Here are the weekly, monthly, and annual TSP fund returns for the week ending November 7:
The SPY (S&P 500 / C-fund) filled the open gap that we talked about in last week's Wrap Up. There is some resistance at the current level and that may turn out to be the neckline of a large inverted head and shoulders pattern.
Chart provided courtesy of www.stockcharts.com, analysis by TSP Talk
If that is the case, we could start seeing the market pullback some this week to form the right shoulder (RS).
The Wilshire 4500 (S-fund) still hasn't made it back up to the summer highs, but it has had a huge rebound off the October lows. The trend is still up but this index must be getting tired and may need a rest.
Chart provided courtesy of www.stockcharts.com, analysis by TSP Talk
The EFA (I-fund) has been lagging and the I-fund is the only TSP fund with a negative return this month, and this year. You can see it hit the 50-day EMA (blue) and could not hold there.
Chart provided courtesy of , analysis by TSP Talk
The AGG (Bonds / F-fund) broke out of its descending trading channel after finding support where the August highs met the 50-day EMA. They are due for a little oversold rally but that peak in October may turn out to be a long-term top for bonds.
Chart provided courtesy of www.stockcharts.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. 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-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.
