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Bitcoin was the name of the game yesterday. The crypto-currency dropped 30% in one day, which took it down 54% from its all time highs made just last month, and that sent a shock wave throughout the market. As bitcoin recovered from its low near $30K yesterday to close just below $40K, stocks stabilized and the early sell off saw some buyers step up by the close. The Dow lost 165-point, well off the nearly 600-point loss it had in the morning. Bonds were down, the ...

Originally Posted by coolhand

The S&P struggled most of the day to hold its neutral line before succumbing to selling pressure as the market was nearing the close. The DWCPF showed relative strength trading well above its own neutral line until that same late day selling pressure pushed price into negative territory at the end of the trading day. Both indexes lost ground, but the action did not make the future any easier to discern.

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Stocks rebounded from sharp early selling on Monday to close well off the lows and closer to the highs of the day. The Dow lost 54-points, but it had been down over 250, and in the case of the Russell 2000 small caps, it managed to climb although back into positive territory by the close, although our S-fund didn't quite get there. Bonds were down, as was the dollar, which helped give the I-fund a positive return yesterday.

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Originally Posted by coolhand

Friday's big rally did not carry over to Monday as price fell back somewhat modestly.




Not much was proven by Monday's action so we'll have to see how the balance of the week unfolds.



Cumulative breadth had an up-tick and remains bullish.

I don't have much to say after Monday's action. It is still a guessing game what price is

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Stocks had a big follow through day on Friday after Tuesday's reversal rally. The Dow gained 361-points or just over 1%, while the other major indices performed even better. The action looks strong but there are still a few obstacles - especially in the broader Nasdaq and small caps indices as we'll see in the charts. Bonds rallied and the dollar was down. Despite the big gains to end the week, all of the TSP stocks funds lost between 1.3% and 2% on the week.

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