Today's Comments (Short Term Outlook)                             Printer friendly

Muddled Stocks sold off Thursday morning, rallied strongly in the early afternoon, and gave back a good portion of the gains by the close.  It appears investors and traders are as uncertain as I am. The market is not giving us much to go on at the moment.  The S&P 500 is finding support at the 20 and 50-day exponential moving averages, but below resistance.  Many are calling for a bottom, while others say the technical picture points to more downside.                                      Chart provided courtesy of www.decisionpoint.com The overbought/oversold indicator is very close to neutral, giving us no edge as to which direction to favor.                                      Chart provided courtesy of www.decisionpoint.com The sentiment surveys are mixed although the TSP Talk survey came in overly bearish again, 38% bulls, 48% bears.  That's nothing new for 2008.   I am looking forward to a couple of days off from the market.  Next week is options expiration week and a wave of first quarter earnings reports will start coming out.  I am more curious about what will happen than anything else.  I really can't even speculate.  I plan to react rather than anticipate.  It's Friday, it's been a long week, and I am drained. Thanks for reading.  Have a great weekend! Have questions?  Visit our message board for answers.  Would you like to be on our email alert list?  We will send you an email when there is a change to our asset allocation or market outlook.  Your email address will never be given out.  Read our privacy policy.  By signing up you agree to the TSP Talk Terms of Service.  More details below **. Are you bullish or bearish?  Join the Weekly Sentiment Survey. Like what you're reading?  Tell a Friend about us.   TSP Talk is in no way affiliated with the U.S. government, or military TSP Thrift Savings Plan, tsp.gov, or any other government agency.  TSP Talk does not guarantee the accuracy or completeness of this report, nor does TSPtalk.com assume any liability for any loss that may result from reliance by any person upon any such information or opinions. Such information and opinions are subject to change without notice and are for general information only.  The information contained on this website is for educational purposes only and not intended to be recommendations, and may not be published, broadcast, rewritten or otherwise distributed without prior written consent from TSPtalk.com. Copyright © 2003 - 2008 TSP Talk, LLC All Rights Reserved TSPtalk.com, P.O. Box 13213, Ogden UT 84412