Stocks floundered most of the day yesterday, but after the Fed's policy statement was announced, the fireworks began.  After the smoke cleared, the Dow lost 81-points, and the TSP's C, S, and I stock funds dropped 1.0%, 1.3%, and 0.6% respectively.  Bonds were up 0.2%.

There were no real surprises in yesterday's FOMC meeting announcement from the Fed, but that didn't stop stocks from jumping up and down - in that order.  It didn't take long before the 90-point gain and new 11-month high, turned into an 80-point loss by the close.

    

While the S&P 500 did close back below the rising resistance line, that thought could turn into support if it held for 3 or more days, it is still so close that it is not giving us a definitive answer.

                                                     
                   Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk


The following chart is considered a smart money indicator.  It is the corporate insiders actions.  I had to truncate it a bit to fit it in here, but off to the right we are just missing the S&P 500 prices and the values for the bullish / bearish readings.  Suffice it to say that a reading up near the red areas are bearish for stocks, and the green areas are bullish for stocks. 


                               Chart provided courtesy of www.sentimentrader.com

The current reading of -1.24 put the indicator in between -1 (bearish for stocks) and -2 (very bearish for stocks).  This smart money can swing wildly during the year and at times their extreme sentiment can be a little early as far as picking tops and bottoms.  Without going too much more into detail, I think the gist of this chart is pretty apparent - corporate insiders are selling.

That's all for today.   Thanks for reading!   See you back here tomorrow.