The early Monday morning rally was quickly sold off, but the bulls stepped up and pushed the indices back toward the break-even area. The Dow lost 12-points on the day. For the TSP, the C-fund was up 0.05% yesterday, the S-fund fell 0.08%, the I-fund gained 1.06%, and the F-fund (bonds) lost 0.07%. The S&P
Stocks started out at the open in positive territory and continued to march higher for the first half hour of trading, but that turned out to be their highs of the day as they then chopped their way into the red before recovering as the afternoon session worn on. They finished the day mixed and relatively flat.
The euro continued its recovery, which has been helping anyone who's currently invested in the I fund as the dollar has been weakening as the euro has risen.
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Stocks were mixed on Friday as the Dow gained 97-points with help from the heavily weighted tech stocks, Intel, IBM, and Microsoft, all of whom reported strong earnings after the close on Thursday. However, the broader indices, S&P 500, Nasdaq, and Dow Transportation Index, were flat to down on the day.
This is the first time I've seen it and it's notable. The Top 50 has a 100% stock allocation going into Monday's action. No G or F fund holdings. The herd on the other hand, is moving to safety.
Here's the charts:
Pretty self explanatory. Bullish? Maybe. The Seven Sentinels remain in a buy condition as does our sentiment survey. And given how
Updated 01-23-2012 at 10:08 AM by coolhand