Market Comments June 18, 2009  Current TSP Share Prices

Today's Comments (Short Term Outlook)                            Printer  friendly

Glass half empty or full? After a mid-day rally, stocks struggled late yesterday and the indices finished slightly lower.  The TSP stocks funds were down slightly, and the F-fund was up again.  Depending on your outlook, you may look at yesterday's action as positive or negative.  The S&P 500 found a little support at the 50-day exponential moving average (EMA) and the 200-day simple moving average (SMA), but it is now below the rising wedge and can not seem to get above the 200-day EMA.  The PMO and MACD are not looking good and stocks could be vulnerable if they can not hold support.                Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk The bulls see the glass as half full believing the bears have not been able to take the market down while they had the chance.  The bears believe the bulls have not been able to muster up enough strength to rebound off of the support.  They are probably both right. This is options expiration week and we could see some manipulation and some head fakes in the indices in the next couple of days, so we may not know which way things are really going to head until next week.  Although I have been impressed with the recent consolidation, I am still expecting the worst. Still on vacation this week so I'll cut it short.  Thanks for reading!  See you tomorrow!