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TSP Talk Weekly Wrap Up

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The long weekend last week gave traders some extra time to digest the headlines of the costly damage of Hurricane Harvey and the hype of additional hurricanes following; and on top of that, the threat of North Korea testing missiles over the weekend. So not surprisingly, U.S. stocks sold off Tuesday morning. The tricky part is that by mid-Tuesday traders had gotten it out of their system. Dip buyers stepped in for the last few hours of trading and a good portion of the early losses were taken back.

The rest of the week was mostly choppy noise and only good for short-term stock traders. Neither the bulls nor the bears seem to have control over this market. Hurricane Irma is being hyped up by the media but its hard to say whether the market will react much to any outcome. It's actually surprising that they held up despite the imminent storm.

The I-fund led the TSP funds this week with some help from some weakness in the dollar. The F-fund also saw some gains as some investors took safety in bonds as stocks began to tumble. Both the C and S-fund were down with the S-fund taking the greatest hit with over a 1% loss for the week.




Here are the weekly, monthly, and annual TSP fund returns for the week ending September 8th:




The SPY (S&P 500 / C-fund) gapped down Tuesday morning but reversed intraday befor officially testing the 50-day EMA. The index traded in a relatively tight range for the rest of the short week. A small open gap is lingering above which could be a quick closure. The C-fund was down 0.58% for the week.




The Dow Completion Index (S-fund) fell right back into the trading channel of the second half of August where it remained for the rest of the week. An open gap was closed Tuesday which marked the lows of Tuesday's sell off. The index now sits just above rising support but there is still an open gap from August below the current price. The S-fund lagged the TSP funds for the week with a loss of 1.12%.




EFA (EAFE Index / I-fund) filled an open gap early this week before moving up to produce a new open gap. The index gapped up Thursday and matched the highs of August. The index opened above those highs Friday but closed just about even with them to end the week. The I-fund led the week with a gain of 0.83%.




AGG (Bonds / F-fund) was up this week with some weakness in U.S. stocks. Bonds traded around the rising resistance line of the trading channel it has been in since early July. The F-fund was up 0.45% for the week.



Good luck and thanks for reading. We will be back here next week with another TSP Wrap Up. You can read our daily market commentary at the Market Comments page. If you need more help deciding what to do with your account, perhaps one of our Premium Services can help.


Tommy Crowley
www.tsptalk.com
Weekly Wrap-Ups Archive
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The legal stuff: This information is for educational purposes only! This is not advice or are commendation. 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)
S&P 500 INDEX,RTH (^GSPC)
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)