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A strong manufacturing report ignited stocks shortly after the open yesterday but the large early gains were diminished by the close. The early 125-point gain in the Dow turned into a 66-point gain.
For the TSP, the C-fund was up 0.57% yesterday, the S-fund gained 0.20%, the I-fund fell 0.22%, and the F-fund (bonds)
For whatever it's worth, in 2011, the first trading day in May marked the intraday high of the year.
The Dow was up 118-points intraday on May 2, 2011 to 12,928, but reversed and closed down 3 on the day to 12,807.
The US Dollar Index (USD) continues its slide and today (04/30/12) broke through a contracting formation (pennant), as viewed on the first chart. The 50 exponential moving average (ema) was breached four trading days ago at 79.38 and now we see a steep decline towards the 200 ema at 78.51. Today (04/30/12) the USD index closed only 0.20 above. Fairly substantial support is near the USD index 78 area. The slow stochastic is quite oversold and may be starting a bottoming process soon. Previous
After 4 consecutive positive days, stocks pulled back modestly yesterday. A late rally took the indices off of their lows. The Dow lost 14-points, while the other major indices fell about a half of a percent.
For the TSP, the C-fund lost 0.39% yesterday, the S-fund was down 0.83%, the I-fund fell 0.26%, and the F-fund (bonds)
It was another positive day for stocks on Friday, despite Standard and Poor's downgrade of Spain's credit rating. The Dow did finish off of the highs, but held onto a 24-point gain.
For the TSP, the C-fund gained 0.24% on Friday, the S-fund was up 0.63%, the I-fund made 0.60%, and the F-fund (bonds) gained 0.08%.
Updated 04-30-2012 at 09:12 AM by tsptalk
(seasonality chart added, H&S corrected)