Stocks opened sharply lower on Monday this past week with things getting worse on Tuesday. The market turned around on Wednesday rebounding and posting a two-day rally into Thursday. The jobs report and terror attacks in France may have given the market a reason to pull back again on Friday, and we saw traders taking profits before the weekend.
Here are the weekly, monthly, and annual TSP fund returns for the week ending January 9th:
The SPY (S&P 500 / C-fund) is working on filling its most recent open gap from Thursday and it seems it is well on its way with the sell off on Friday. The 50 day EMA is in the same area as the bottom of the open gap which will be a big test for the S&P if the downside continues.
The Wilshire 4500 (S-fund) has been troubled by the 1050 to 1060 line and Friday's pullback showed this hasn't changed. This is a bullish chart but it must move past the resistance.
Chart provided courtesy of www.stockcharts.com, analysis by TSP Talk
The EFA (EAFE Index / I-fund) couldn't quite fill the gap from Monday completely before starting to fill the most recent gap from Thursdays open. This leaves the EFA surrounded by gaps and we expect both to be filled. Bottom line this is a bearish looking chart and this could mean trouble for the I fund.
Chart provided courtesy of www.stockcharts.com, analysis by TSP Talk
The AGG (Bonds / F-fund) keeps playing with its resistance line right about the 111 mark. This is a crucial point and what follows will determine whether AGG can break past the October highs or will bounce back to its support at the 110.25 mark.
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 more help deciding what to do with your account, perhaps one of our premium services can help.
TommyIV
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 for the week ending January 9th:
The SPY (S&P 500 / C-fund) is working on filling its most recent open gap from Thursday and it seems it is well on its way with the sell off on Friday. The 50 day EMA is in the same area as the bottom of the open gap which will be a big test for the S&P if the downside continues.
The Wilshire 4500 (S-fund) has been troubled by the 1050 to 1060 line and Friday's pullback showed this hasn't changed. This is a bullish chart but it must move past the resistance.
Chart provided courtesy of www.stockcharts.com, analysis by TSP Talk
The EFA (EAFE Index / I-fund) couldn't quite fill the gap from Monday completely before starting to fill the most recent gap from Thursdays open. This leaves the EFA surrounded by gaps and we expect both to be filled. Bottom line this is a bearish looking chart and this could mean trouble for the I fund.
Chart provided courtesy of www.stockcharts.com, analysis by TSP Talk
The AGG (Bonds / F-fund) keeps playing with its resistance line right about the 111 mark. This is a crucial point and what follows will determine whether AGG can break past the October highs or will bounce back to its support at the 110.25 mark.
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 more help deciding what to do with your account, perhaps one of our premium services can help.
TommyIV
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.
