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Support hold while stocks battle the dollar Free access to The EbbChart System this week.  See below for details. Stocks put in a nice reversal day yesterday after opening down near the lows of the day, and closing near the highs.  The Dow ended the day up about 66-points.                                  For the TSP, the C-fund gained 0.50% yesterday, the S-fund was up 0.57%, the I-fund lost 0.56%, and the F-fund (bonds) fell 0.16%.  The S&P 500 closed above the support of the inverted head and shoulder neckline line again,  but the longer it takes to pull away from this area, the more likely it won't hold.  For now it looks OK and we should see some action in the next couple of trading days, and using the positive pattern over the mixed indicators, I would expect the move to be up.                                                                                  Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk You know the drill on the dollar so I won't go over it in detail again.  Basically we are seeing a rally in a bear market and until the resistance and downtrend breaks, we should expect bearish results for the dollar - which should help the stock market.                                                   Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk Most of the major indices look similar with either an inverted head and shoulders like the S&P 500, or a similar breakout that has pulled back to test the old resistance - which is now acting as support.  It's still looking positive.                                                             Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk The TSP Talk Sentiment Survey came in at 1.18 to 1 bulls (46%) to bears (39%) ratio. That is a neutral reading so the system's allocation remains 100% S-Fund for next week.  The system is currently up 10.41% in 2011, through Thursday's close. Administrative Note:  The EbbChart System premium service will be free this week!  Click here for access. Thanks for reading!  Have a great weekend!   Click here to discuss today's Market Commentary Tom Crowley

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