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Last week, I said I was expecting the market to bias higher. The up and down nature of trading didn't change, but by week's end the market was higher. All three TSP stock funds were up as the S fund more than doubled the C fund, which came in 2nd place with a gain of 0.87% to the S fund's impressive 2.07%. The I fund just did keep its head above water with a 0.11% gain.
The S&P 500 started the week under its 50 dma, tested it on Thursday,
Stocks came out of the holiday weekend with some strength but the rest of the week was inconsistent with no clear trend. A few day to day factors were driving this rollercoaster of a week; some of which only affected large caps so naturally we saw the S-fund outperform this week by more than 1%. Hitting the headlines were the poor earnings report from Goldman Sachs, the more than 7% loss in oil for the week, the close upcoming election in France, and President Trump claiming he has big news concerning
Stocks opened higher on Thursday morning and continued to rise most of the day, except for a late minor dip near the close. The Dow gained 174-points, off the 200+ point highs of the day. The Nasdaq, small caps, and the Transports led the way on the upside, and those are the leaders that the bulls would want to see outperforming. The Nasdaq actually made a new closing high.
Stocks were mixed yesterday as the Nasdaq and small caps ended the day with moderate gains while the Dow suffered its second straight triple digit loss (-119) with IBM accounting for half of those losses. The S&P 500 had opened sharply higher on the day, but the weight of IBM and the drop in oil prices was too much for the large cap index.
Stocks opened lower yesterday and couldn't catch much of a bid all day, although the Dow did manage to close about 60-points off the intraday low. The 114-point loss means we still have not had two consecutive positive days in April. And if we go further back, the Dow has had only one two-day winning streak since 12-day winning streak ended in February, and that was back in early March.