Stocks were up for the week but the levels of success for the stock funds was mixed. The S&P 500 (C-fund) was nearly flat while small caps (S-fund) were up more than 1%. A difference strength was also demonstrated by the two indices reactions to resistance lines; SPY (C-fund) was held up by its overhead resistance while the Dow Completion Index (S-fund) broke above its overhead resistance to produce new highs on the year. Bonds (F-fund) were also up to produce a decent gain after its index AGG gapped up Friday and then closed at its high.
The jobs report came out with an addition of 38,000 jobs and an unemployment rate of 4.7%. This was significantly weaker than expected especially with the hawkish attitude of the Fed lately. However buyers did show up after initial selling to bring the S&P 500 near the previous Friday's close.
Here are the weekly, monthly, and annual TSP fund returns for the week ending June 3rd:
The SPY (S&P 500 / C-fund) found resistance as it closed at the April highs on Thursday but was unable to increase further on Friday. It is plausible to see this index test support from average and trend lines before re-testing the April highs. Although any new economic stimulus over the weekend could help to re-energize buyers. The C-fund was nearly flat for the week with just a 0.04% gain.
The Dow Completion Index (S-fund) surpassed April's high on Thursday to produce a new high for 2016. Things initially turned around Friday with the release of the jobs report but the April highs may have acted as support to reduce the loss of gains for the week. The S-fund was up 1.06% for the week.
EFA (EAFE Index / I-fund) fell early in the short week to fill an open gap produced in the previous week. A couple days were spent near the 200-day EMA before the index produced additional gains on Friday to give the I-fund a gain of 0.18% for the week. There still is potential declining resistance above the current price.
AGG (Bonds / F-fund) produced some gains mid-week but the bulk of the week's gains came from the gap up on Friday followed by a close at the day's high. This put AGG back above the support line it fell below mid-May. The F-fund was up 0.68% 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.
The jobs report came out with an addition of 38,000 jobs and an unemployment rate of 4.7%. This was significantly weaker than expected especially with the hawkish attitude of the Fed lately. However buyers did show up after initial selling to bring the S&P 500 near the previous Friday's close.
Here are the weekly, monthly, and annual TSP fund returns for the week ending June 3rd:
The SPY (S&P 500 / C-fund) found resistance as it closed at the April highs on Thursday but was unable to increase further on Friday. It is plausible to see this index test support from average and trend lines before re-testing the April highs. Although any new economic stimulus over the weekend could help to re-energize buyers. The C-fund was nearly flat for the week with just a 0.04% gain.
The Dow Completion Index (S-fund) surpassed April's high on Thursday to produce a new high for 2016. Things initially turned around Friday with the release of the jobs report but the April highs may have acted as support to reduce the loss of gains for the week. The S-fund was up 1.06% for the week.
EFA (EAFE Index / I-fund) fell early in the short week to fill an open gap produced in the previous week. A couple days were spent near the 200-day EMA before the index produced additional gains on Friday to give the I-fund a gain of 0.18% for the week. There still is potential declining resistance above the current price.
AGG (Bonds / F-fund) produced some gains mid-week but the bulk of the week's gains came from the gap up on Friday followed by a close at the day's high. This put AGG back above the support line it fell below mid-May. The F-fund was up 0.68% 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.
