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We went into last week looking at some pretty strong chart action, and into Wednesday it looked like we were going to get some solid breakouts. Then, at the conclusion of the Fed's FOMC meeting, the market indices reversed themselves and we ended with a flat to mixed week.
Here are the updated weekly, monthly, and annual TSP fund returns through December 14:
After a positive open on Thursday, stocks drifted lower most of the day as both political parties went public again about how bad the other party's proposals are. The Dow lost 74-points or about -0.6%, which is about how the C and S funds ended the day as well.
TSP Talk Sentiment Survey results for the week of 12/17/12- 12/21/12
Buy: The TSP Talk Sentiment Survey came in at 49% bulls, 42% bears, for a bulls to bears ratio of 1.17 to 1. That is a buy signal which means the system will remain in a 100% S fund allocation for the week of 12/17/12 - 12/21/12.
Bull market rules have been in effect since the week of 1/09/12:
See latest survey results
To discuss or comment on the Sentiment Survey, go to Sentiment
Stocks saw modest gains in early trading, then the Fed stepped in and shook things up and at the end of the day most indices were flat to slightly lower. The Dow ended the day down 3-points while the S&P was up less than a point.
Stocks rallied strongly out of the gate yesterday taking out some key resistance levels, but some afternoon weakness left the indices off their highs as the early triple digit gain in the Dow turned into a 78-point gain by the close.