"Operation Twist" was the big news event of the day and the market responded to it in convincing fashion, although the majority of losses occurred in the final half hour of trading, which was well after the initial news hit the wires.
The FOMC revealed that it would purchase $400 billion in Treasuries in the 6 to 30 year maturity range and sell an equal amount of shorter term Treasuries. It wasn't unexpected, so it appears to be a "sell
Stocks rallied early but fell late as the 50-day EMA continues to act as resistance. The Dow closed up 8-points, giving up most of the day's 150-point gain in the last two hours of trading.
For the TSP, the C-fund was down 0.16% yesterday, the S-fund lost 1.45%, the I-fund added 0.53%, and the F-fund (bonds) slipped 0.07%.
I'm going to do an abbreviated blog tonight as I'm not using a computer that has the software that I normally use, so I can't get all seven images posted. But I'll still speak to the two I'm leaving out.
Here's five of the charts:
NAMO and NYMO both dipped below the neutral line today and are flashing sells.
NAHL and NYHL are the two charts I won't be showing, but I did
Stocks opened sharply lower yesterday and while the we did see a triple digit loss in the Dow, it did close well off of the lows as buyers stepped up late in the afternoon.
For the TSP, the C-fund was down 0.98% yesterday, the S-fund lost 1.36%, the I-fund fell 2.46%, and the F-fund (bonds) rallied 0.46%.
It's hard to believe that the market would continue to trade in volatile fashion on news that really isn't news anymore, but concern that Greece may default on its debt was blamed for today's sell-off. Media reports that the country may be close to reaching an agreement for more funding seemed to mitigate losses against the major averages however. Still, the S$P 500 closed down just under 1%, while the Nasdaq saw a much more modest 0.36% decline.