Stocks were down this first week of the new month of August which is known to have poor seasonal record. Troubles abroad and within our own economy didn't help traders look past this statistical stigma. Abroad we saw Greece stocks open down 30% Monday stirring up some early anxiety. We've also seen some poor action from Apple's stock lately which has a rippling effect through the indices.
No surprises in the July jobs report on Friday with the numbers in line with estimates but that didn't impress investors and the markets reaction was a little disappointing.
All the TSP stock funds were down for the week. The F-fund lead with slight gains.
Here are the weekly, monthly, and annual TSP fund returns for the week ending August 7th:
The SPY (S&P 500 / C-fund) has nearly reached support of the left shoulder of the inverted head and shoulders we've been watching in the Market Commentary. If this inverted head and shoulders pattern plays out as they usually do then the 206-207 area should hold and we may see the momentum turnaround similar to our predicted blue dashed line. The C-fund was down 1.18% for the week.
The Dow Completion Index (S-fund) had the greatest decline of the TSP funds this week down 1.75%. It momentarily broke through the 50-day EMA and declining resistance Wednesday but closed well off the highs. Poor action Thursday and Friday put the Dow Completion Index back below its 200-day EMA.
EFA (EAFE Index / I-fund) had been fighting to stay above its 50-day EMA for the later part of the week but broke below it as well as rising support of the pennant's apex Friday. This could be bad news for EFA and it will need support from its 200-EMA to help hold it up against the overhead descending resistance. The I-fund was down 0.55% for the week.
AGG (Bonds / F-fund) initially broke through rising resistance of its short-term rising channel Monday but by Wednesday found itself below the rising support. Old resistance, which could possibly be new support, helped push bonds back within this trading channel Friday. The F-fund was up 0.07% for the week.
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 the Market Comments page. 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-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.
No surprises in the July jobs report on Friday with the numbers in line with estimates but that didn't impress investors and the markets reaction was a little disappointing.
All the TSP stock funds were down for the week. The F-fund lead with slight gains.
Here are the weekly, monthly, and annual TSP fund returns for the week ending August 7th:
The SPY (S&P 500 / C-fund) has nearly reached support of the left shoulder of the inverted head and shoulders we've been watching in the Market Commentary. If this inverted head and shoulders pattern plays out as they usually do then the 206-207 area should hold and we may see the momentum turnaround similar to our predicted blue dashed line. The C-fund was down 1.18% for the week.
The Dow Completion Index (S-fund) had the greatest decline of the TSP funds this week down 1.75%. It momentarily broke through the 50-day EMA and declining resistance Wednesday but closed well off the highs. Poor action Thursday and Friday put the Dow Completion Index back below its 200-day EMA.
EFA (EAFE Index / I-fund) had been fighting to stay above its 50-day EMA for the later part of the week but broke below it as well as rising support of the pennant's apex Friday. This could be bad news for EFA and it will need support from its 200-EMA to help hold it up against the overhead descending resistance. The I-fund was down 0.55% for the week.
AGG (Bonds / F-fund) initially broke through rising resistance of its short-term rising channel Monday but by Wednesday found itself below the rising support. Old resistance, which could possibly be new support, helped push bonds back within this trading channel Friday. The F-fund was up 0.07% for the week.
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 the Market Comments page. 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-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.
