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Stocks rallied out of the gate yesterday but went into a decline by late afternoon as the buying dried up. The Dow, which had been up about 60-points earlier, closed down 68-points.
It is sure nice of the market to be very quiet during my vacation. The Dow lost 3.56 points on the day.
Stocks bounced around on Friday but closed strongly, locking in another week of gains for the major indices. The Dow gained 25-points on the day.
Last week the charts for the Top 50 and the Total Tracker showed a very high level of bond exposure with stocks being largely shunned. What did the market do? Rally.
This week, the Top 50 reversed course in a big way. The Total Tracker also showed a reversal, but not nearly as pronounced.
Last week the Top 50 had a collective bond allocation of 56.3%. This week that allocation fell to
August continues to shine
I will spare you this weekend as this will be a vacation shorten Wrap Up.
Stocks continued their August rally as the indices defy gravity and cling to overhead resistance.
Here are the TSP fund returns for the week of August 13 through August 17.
The S&P 500 broke above the normally bearish