Stocks managed to end the week in green territory thanks to a fast start with Monday's gap up at the open that was followed by a steady rally all day. However the bears took over Tuesday and Wednesday to drive stocks back to where they left off the previous week. Modest gains Thursday concluded the short week and left behind an erratic chart. The jobs report came out Friday revealing 126,000 jobs created which was well off the 245,000 expected by economist so this Monday's open should be interesting as investors have the weekend to think about how they are going to react to this information.
Here are the weekly, monthly, and annual TSP fund returns for the week ending April 2nd:
The SPY (S&P 500 / C-fund) is in a short-term downtrend and is being wedged between a descending resistance line and support from March's lows. It's a new month, a fresh quarter, and we will see a reaction to the jobs report Monday, so it's anyone's guess as to what kind of action we will see from the SPY this coming week. The C-fund ended the week up 0.32%.
The Wilshire 4500 (S-fund) is in a similar situation as the SPY, however the Wilshire 4500 broke above its descending resistance line Thursday and was up 1.02% this week. It's fair to say by looking at these charts that the S-fund has the advantage and will continue to try to outperform the C-fund for the year.
The EFA (EAFE Index / I fund) finished the week nearly flat and now sits between two open gaps and I'd say they're small enough that it's possible to see them both filled in a single trading day. The Bull market continues for the I-fund and is now up 6.93% for the year.
AGG (Bonds / F-fund) had modest gains this week and has an open gap lingering below. AGG's old rising support line has now possibly turned into a rising resistance line and we are headed toward the highs from the end of January.
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 http://www.tsptalk.com/comments.php. If you need more help deciding what to do with your account, perhaps one of our premium services can help.
Tommy Crowley
www.tsptalk.com
Weekly Wrap-UpsArchive
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.
