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Slight gains as bears kept at bay again

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Stocks closed about where they opened on Thursday but they had to overcome a couple of attempts by the bears to push things lower. Most of the indices closed in positive territory but up or down, there were no major moves as they all closed with gains or losses of about 0.2% or less.

Daily TSP Funds Return

The Senate has another healthcare plan on the table and that could set the tone for some volatility in the coming days. Washington has been quite the catalyst but good new or bad, so far stocks have bounced back from every shock it has endured.

As we head into earnings season, and we get some major banks reporting this morning, the retail stocks posted a very good week and have had a nice run
after a very rough June. Technically however, it is still below the old longer-term rising support line and found resistance Thursday at the 50-day EMA. This could be interesting.

The SPY (S&P 500 / C-fund) posted a small gain adding onto Wednesday's strong day. We saw a breakout above the descending trend this week but before it makes a new high, there is the matter of that open gap below. We've seen gaps go unfilled during this bull run, but that is not very common.

The DWCPF (S-fund) posted a very nice positive reversal day on Thursday as it started to move within its open gap in early trading before rebounding in the afternoon and closing at the day's highs. It remains just below that stubborn resistance area.

The Nasdaq 100 poked its head above its descending resistance line and this market leader has recently turned into a follower as it tries to catch up to the S&P and small caps. The open gap is still there for all traders to see so it becomes a likely target at some point.

The EFA (EAFE Index / I-fund) took another step forward to break its downtrend. It looks like a nice consolidation at this point having brushed aside some of the resistance with ease this week.

Complacency is back as the Volatility Index settled below 10.0 again.

The AGG (bonds / F-fund) was down slightly as it tried to fill its open gap and retest the 50-day EMA. It closed off the lows and near the highs for a positive reversal, so the short-term looks like anybody's guess with that gap still officially open.

Read more in today's TSP Talk Plus Report. We post more charts, indicators and analysis, plus discuss the allocations of the TSP and ETF Systems. For more information on how to gain access and a list of the benefits of being a subscriber, please go to:

Thanks for reading. Have a great weekend!

Tom Crowley

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The legal stuff: This information is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this data. Do not buy, sell or trade the funds mentioned herein based on this information. We may trade these funds differently than discussed above. We use additional methods and strategies to determine fund positions.

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S&P 500 (C Fund)
DWCPF (S Fund)
Dow Jones U.S. Completion Total Stock Market Index (^DWCPF)
EFA (I Fund)
iShares MSCI EAFE Index (EFA)
AGG (F Fund)
iShares Lehman Aggregate Bond (AGG)