This and that about the market, the TSP, maybe some politics, and life.
Despite some weak economic data, Apple's earnings seemed to be enough to give stocks a boost yesterday as it helped the Nasdaq to a gain of 2.3%, while the S&P added 1.4%. Apple is not in the Dow and it gained 89-points or "just" 0.07%. For the TSP, the C-fund gained 1.38% yesterday, the S-fund was up 1.77%, the I-fund
Updated 04-26-2012 at 09:20 AM by tsptalk (share prices corrected)
We saw steep losses in stocks on Monday but as we mentioned yesterday, despite the losses, there was an decent intraday reversal and the indices closed near the day's highs that day. Reversals such as that tend to create a follow though day, which is what we got on Tuesday. The Dow finished off its highs, but did gain 74-points on the day. For the TSP, the
Political uncertainty in Europe, and the economic slowdown in China sent stocks reeling on Monday. The Dow lost 102-points on the day, but did manage to close 82-points off of the morning lows. For the TSP, the C-fund was down 0.84% yesterday, the S-fund lost 1.25%, the I-fund dropped 1.89%, and the F-fund (bonds) gained 0.12%.
This emotional, Monday morning gap down is at a crucial point. If the selling continues and we see a new low in April (solid red line), we can draw in a new downtrend line (red dashed line).
If this morning's lows hold, the downtrend line would not be drawn yet, and we could have a double bottom situation. The afternoon trading will be key.
As we talked about in today's commentary the Monday after
Stocks were mixed on Friday and lost their large earlier gains as investors appeared leery about holding over the weekend again. The Dow gained 65, the S&P was flat, and the Nasdaq closed down on the day. For the TSP, the C-fund was up 0.12% on Friday, the S-fund gained 0.31%, the I-fund made 0.62%, and the F-fund (bonds) lost 0.07%.