Last week, all three TSP stocks funds finished with nice gains. Those gains were primarily derived by Tuesday's big rally.
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Since Tuesday's upside pop, price on the S&P 500 has fallen back a bit; tracking sideways and under the 50 dma. Momentum is rising, but not with conviction.
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The DWCPF, which also popped to the upside on Tuesday, gave back some of those gains on Wednesday, but rallied from there to end the week with a sizable gain.
Sentiment is somewhere in the middle, but NAAIM remains bullish overall. The options are neutral. Breadth flipped positive on Friday. My intermediate term system is moving toward a bullish stance, but isn't there yet.
I said on Friday that I was looking for an entry back into stocks, but that I was not ready to pull the trigger. I was looking (hoping) for a shot lower, which would have been the temptation that I needed to get back into the market, but that didn't happen. We may have seen the bottom already. It's a tough call to jump back in, however. I am only modestly bullish given the mixed overall technical picture. Improving, yes, but not convincingly. We have not seen a higher high yet, so a move lower again is certainly on the table.
I am modestly bullish as we head into Monday, but not ready to make any moves yet.
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