Today's Commentary
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Dull day... waiting
Just a quick update today after yesterday's uneventful, low volume trading.
The Dow slipped 26-points.
For the TSP, the C-fund lost 0.16% yesterday, the S-fund slipped 0.09%, the
I-fund dropped 0.27%, and the F-fund (bonds) gained 0.20%.
The S&P 500 was off a couple of points after a
very low volume day. The right shoulder of the inverse head and
shoulders pattern is about complete and we're just waiting to see if we get
a breakout above the neckline, or of we get a test of the middle of the
head, which would also fill the open gap.
Chart provided courtesy of
www.decisionpoint.com, analysis by TSP Talk
As a reminder, here are the two more common outcomes of an inverse head and
shoulders pattern...
The Nasdaq has also created a well-formed inverse head and
shoulders pattern, and has an enormous gap left open. It just recently
filled the gap left open since February.
Chart provided courtesy of
www.decisionpoint.com, analysis by TSP Talk
The TSP Talk Sentiment
Survey System is in the S-fund this week and is now up 9.52% for 2011.
Thanks for reading! We'll see you back here tomorrow.
Click here to discuss today's Market Commentary
Tom Crowley
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