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Market Comments

April 26, 2011

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Today's Commentary           Not seeing a current commentary?                
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.
 

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Tom Crowley


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