Stocks were mixed this week with the S&P 500 finishing with a slight loss while small caps produced a modest gain of under 1%. The I-fund had a big week with the help a sharp decline in the dollar.
Solid earnings reports from the big names of Apple, Facebook, and Google were not enough to stimulate investors to keep buying because of weakness in oil, which particularly kept the S&P 500 from moving above overhead resistance, so the consolidation continued.
Something in the trading atmosphere is holding investors back; it could just be a technical reading by traders who are keeping a close eye on trading channels, or the rallies from the first half of July have some traders tentative about the direction of the next move. Monday is a start to a new month so we may expect a shift in attitude among investors.
The I-fund led this week with more than a 2% gain, while the C-fund lagged with a slight loss and the only loss for the TSP funds.
Here are the weekly, monthly, and annual TSP fund returns for the week ending July 29th:
The S-fund produced the largest gain for the month of July among the TSP funds with a gain of 5.4%. All the TSP funds finished July in positive territory.
The SPY (S&P 500 / C-fund) failed to move above the resistance line of its recent trading despite the good earnings reports this week. The trading channel has continued for 10-days now but Monday is a new month so things could change. The C-fund was down 0.05% for the week.
The Dow Completion Index (S-fund) has also remained within a trading channel for the past two weeks but its trading channel is rising so the S-funds was able to produce a modest gain of 0.66% for the week.
EFA (EAFE Index / I-fund) broke above its trading channel Friday as it gapped up at the open producing an open gap. That now puts four open gaps below its current price. The I-fund produced a gain of 2.38% for the week giving it a gain of 5.07% for July.
AGG (Bonds / F-fund) broke above the resistance line of the bear flag formation Friday locking in gains for the week. Three open gaps still linger below for this index but has continued to move farther away from the top one since approaching it last week. The F-fund was up 0.49% for the week and finished with a gain of 0.64%.
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.
Solid earnings reports from the big names of Apple, Facebook, and Google were not enough to stimulate investors to keep buying because of weakness in oil, which particularly kept the S&P 500 from moving above overhead resistance, so the consolidation continued.
Something in the trading atmosphere is holding investors back; it could just be a technical reading by traders who are keeping a close eye on trading channels, or the rallies from the first half of July have some traders tentative about the direction of the next move. Monday is a start to a new month so we may expect a shift in attitude among investors.
The I-fund led this week with more than a 2% gain, while the C-fund lagged with a slight loss and the only loss for the TSP funds.
Here are the weekly, monthly, and annual TSP fund returns for the week ending July 29th:
The S-fund produced the largest gain for the month of July among the TSP funds with a gain of 5.4%. All the TSP funds finished July in positive territory.
The SPY (S&P 500 / C-fund) failed to move above the resistance line of its recent trading despite the good earnings reports this week. The trading channel has continued for 10-days now but Monday is a new month so things could change. The C-fund was down 0.05% for the week.
The Dow Completion Index (S-fund) has also remained within a trading channel for the past two weeks but its trading channel is rising so the S-funds was able to produce a modest gain of 0.66% for the week.
EFA (EAFE Index / I-fund) broke above its trading channel Friday as it gapped up at the open producing an open gap. That now puts four open gaps below its current price. The I-fund produced a gain of 2.38% for the week giving it a gain of 5.07% for July.
AGG (Bonds / F-fund) broke above the resistance line of the bear flag formation Friday locking in gains for the week. Three open gaps still linger below for this index but has continued to move farther away from the top one since approaching it last week. The F-fund was up 0.49% for the week and finished with a gain of 0.64%.
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.
